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LAHORE, Feb 16 (APP):Coordinator to the Federal Tax Ombudsman Saif Ur Rehman said on Sunday that the construction industry was a key driver of Pakistan’s economic growth,
contributing significantly to GDP and providing employment to millions.
Speaking to a delegation of industrialists led by Mian Zahid Iqbal, former VP of
the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), here,
he emphasized that investment, policy support, and modern technology adoption
were essential to maximizing the sector’s potential.
He highlighted the construction industry’s role in infrastructure development,
including roads, bridges, schools, hospitals, and housing, which were vital for
economic progress and an improved quality of life. He noted that government
initiatives like the China-Pakistan Economic Corridor (CPEC) had spurred
construction activity, attracted foreign investment, and boosted related industries
such as cement, steel, and engineering services.
However, regulatory challenges, outdated technology, and limited financing options
continue to hinder growth.
Saif Ur Rehman stressed the need for policy reforms, sustainable construction
practices, and technological advancements to enhance efficiency and reduce
environmental impact.