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PPI Original Text (PPI-OT): Concerns of Construction Sector Must be Alleviated

Islamabad, May 10, 2012 (PPI-OT): The concerns of the construction sector must be alleviated because housing, like food and shelter, is a basic need of the people. In this regard, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will assist the construction sector by taking up their grievances with the Government through its nominee on the Sindh Revenue Board.

This was agreed upon unanimously by all participants at a meeting held between FPCCI, the Association of Builders and Developers (ABAD), and the Construction Association of Pakistan at the FPCCI’s Head Office on Wednesday, May 9, 2012.

Haji Fazal Kadir Khan Sherani, President-FPCCI welcomed Mr. Mohsin Sheikhani, Chairman ABAD; Mr. Ahmed Ghazal Usmani, Chairman CAP, and other the members of two bodies at the Federation House and assured them that their concerns would be taken up at the government level by FPCCI. With regard to the concerns raised over the law and order situation, Mr. Sherani asked the business community to participate actively in FPCCI’s Standing Committee on Law and Order, so that their proposals in this regard could be taken up at this forum.

Mr. S.M. Muneer, President of the India Pakistan CCI said that the impact of excessive taxation on the construction sector would result in increase in the price of housing. He asked the representatives from this sector to provide FPCCI with details of the problems they were facing so that they could be taken up with the provincial government.

He agreed with the businessmen that promoting a positive image of the country was essential to attract foreign investment and media should play a more effective role in this regard. While appreciating the sector’s concerns regarding financing opportunities, he said that private banks were hesitant to participate in the construction sector owing to the presence of some black sheep. He pointed out that a large number of litigations in the banking sector were related to construction projects, which needed to be addressed.

Among the other participants at the meeting were Shaikh Haroon Rashid, Vice President-FPCCI; Mr. Iqbal Dawood Pakwalla, Vice President-FPCCI; Mr. Dawood Usman Jakhura, , and other prominent businessmen.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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