CAP welcomes PM's decision to set up CIDB

The Constructors Association of Pakistan (CAP) welcomed Prime Minister Imran Khan's decision of setting up 'Construction and Infrastructure Board (CIDB)' and stressed the need of setting up Construction Development Bank (CDB) and immediate bridge financing facilities of all federal and provincial projects by the commercial banks.

It may be mentioned here that the PM announced setting up this board during a meeting with a delegation of the Association recently led by its Chairman Muhammad Asad Ullah Khan. The CAP leadership also thanked the premier for approving the construction sector as industry and said that construction development bank is essential to pace up construction activities in the country which will lead to job creation and mobilization of 40 ancillary industries.

It is globally acknowledged that construction sector plays a major role in the economic development and uplift of the country. Construction provides job opportunities to millions of skilled and un-skilled labour force. It is considered as one of the largest employment generating sector after agriculture, said CAP Chairman Muhammad Asad Ullah Khan on Wednesday.

He said unfortunately in Pakistan no such body has been established so far that could cater to the needs and contribute to the development of construction industry. He demanded that the proposed Board should have the mandate of restoring the Pakistan Institute of Costs and Contracts (PICC) to advise and make recommendations to the federal government and the provincial governments on matters affecting or connected with the construction industry; promote, stimulate and undertake research into any matter relating to the construction industry to promote and assist in the export of services relating to the construction industry.

He also urged the government to authorize this board to promote and encourage quality assurance in the construction industry, regulate the conformance of standards for construction workmanship and materials and accredit to contractors and consultants to impose any conditions of registration and accreditation of the contractors and consultants to revoke, suspend or reinstate the registration and accreditation.

CAP Chairman Asadullah Khan and other office-bearers also drew the attention of the government towards another important demand of the construction industry - establishment of construction of development bank and immediate bridge financing of all federal and provincial projects by commercial banks.

They observed that the construction projects are generally delayed due to delay in release of funds in the public sector projects.