The following warnings occurred:
Warning [2] count(): Parameter must be an array or an object that implements Countable - Line: 802 - File: showthread.php PHP 7.4.29 (Linux)
File Line Function
/showthread.php 802 errorHandler->error





Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Builders, developers upbeat after PM’s incentive package
12-04-2013, 01:39 PM
Post: #1
Builders, developers upbeat after PM’s incentive package
KARACHI: The prime minister’s incentive package offers everything positive for the housing and construction industry as it is among the four sectors where the government strives to attract hefty investments by giving scores of concessions.
“This is for the first time in decades that a government has come up with such incentives for the housing and construction industry,” Association of Builders and Developers of Pakistan (ABAD) Chairman Mohsin Sheikhani told The Express Tribune.
ABAD, with its head office in Karachi, is an association of over 700 builders and developers working in the country.
On Friday last week, the prime minister announced that no limit has been fixed for investment in green field industrial and expansion projects that also include captive power plants, low-cost housing, livestock and mining projects provided they are set up on or after January 1, 2014.

The incentive package has set minimum investment limit of Rs10 million to a maximum of Rs50 billion for most sectors where the government would not ask about the investor’s source of income but housing is among those where the limit has been scrapped.
Leading builders and developers say inclusion of low-cost housing schemes among top priority areas shows how much the government is keen to prop up the housing and construction industry.
“What is different in this package is that this time the private sector is being encouraged to do everything and the role of bureaucracy is restricted,” said the ABAD chairman. “This is why we are very much hopeful this time.”
Referring to the tax incentives that are part of the package, the builders and developers say this is one of the best policies as it will minimise corruption and make housing projects viable.
On its part, the government is also working on some schemes to build 500,000 houses in the next five years.
ABAD representatives are of the view that their members can assist the government in building most of these houses as they have large pieces of land for such projects. However, for that they need state support so that they can bring the most economical housing schemes for the middle and lower middle classes.
What analysts say
For economic experts, the move to give priority to housing and construction – one of the labour-intensive industries – is welcome.
“Construction activities in big cities have increased in the last few months. We know there is demand. But to fully realise the strength of the housing industry, the government needs to stabilise economic indicators like a stable rupee and large foreign exchange reserves, to win the confidence of investors,” Topline Securities Chief Executive Mohammad Sohail told The Express Tribune.
Analysts and economic experts are also giving importance to the government’s house building plans. For them, there is a huge demand for new houses, especially in large cities, which can only be met when the private sector is offered incentives.
“Recent incentives for the housing and construction industry are important for its growth. Looking at the government plans to build 500,000 new houses, one can safely say these moves will definitely bring more investments into the sector,” JS Global Capital analyst Atif Zafar said.
Published in The Express Tribune, December 3rd, 2013.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Messages In This Thread
Builders, developers upbeat after PM’s incentive package - Salman - 12-04-2013 01:39 PM

Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  DHA Quetta Introduces Limited-Time Incentive for Residential Applicants LRE-Azan 0 200 11-30-2023 06:43 PM
Last Post: LRE-Azan
  DHA and Paragon Developers Launch Aurum Mall LRE-Azan 0 773 01-20-2023 12:59 PM
Last Post: LRE-Azan
  Lahore: Two Projects of Developers were Taxed without Audit LRE-Azan 0 1,149 01-01-2022 06:35 PM
Last Post: LRE-Azan
  10,000 New Property Developers Bring into the Pakistani Real Estate Market LRE-Azan 0 4,324 09-14-2018 03:19 PM
Last Post: LRE-Azan
  Shahbaz approves multimillion development package for PP-17 Salman 0 3,894 02-18-2014 01:19 PM
Last Post: Salman
  With real estate boom, developers now focus on Raiwind Road Salman 0 7,092 09-30-2013 03:43 PM
Last Post: Salman
  FGEHF steps outside its mandate: Private developers engaged to construct apartments Salman 0 4,456 05-16-2013 03:51 PM
Last Post: Salman
  LDA asks developers to execute transfer, mortgage deeds Salman 0 6,197 04-01-2013 12:31 PM
Last Post: Salman
  LDA warns developers and builders Salman 0 4,030 01-26-2013 01:51 PM
Last Post: Salman
  Developers directed to follow building rules Salman 0 5,029 01-23-2013 01:20 PM
Last Post: Salman
  Illegal construction Notices to developers of housing schemes Salman 0 5,356 12-14-2012 12:58 PM
Last Post: Salman
  PM's S. Punjab uplift package to be completed by year end: NHA Salman 0 4,274 06-23-2012 12:12 PM
Last Post: Salman
  Developers to carry out construction at their own expense Salman 0 3,705 04-14-2012 02:23 PM
Last Post: Salman
  CM announces Rs 20bn loan package for youth Salman 0 4,548 03-09-2012 12:21 PM
Last Post: Salman
  Developers of private housing societies defrauding people Salman 0 3,892 02-28-2012 07:29 PM
Last Post: Salman
  Low-cost housing schemes necessary for big cities, say builders Salman 0 4,213 12-08-2011 12:07 PM
Last Post: Salman
  CDA serves builders two-week ultimatum to clear parking lot Lahore_Real_Estate 0 3,196 06-06-2011 02:35 PM
Last Post: Lahore_Real_Estate
  Japan sends additional aid package worth of $ 240,000 Lahore_Real_Estate 0 4,017 09-09-2010 10:34 AM
Last Post: Lahore_Real_Estate
  Rs 250bn relief package for flood victims likely Lahore_Real_Estate 0 3,347 09-03-2010 12:17 PM
Last Post: Lahore_Real_Estate
  PTCL offers suitable package to employees Lahore_Real_Estate 0 4,588 08-31-2010 12:35 PM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 2 Guest(s)