The Premier further stated that promotion of construction sector is priority of the government because over 40 sectors are directly linked with it and increase in construction activity creates employment and economic activity in the country.
The government, he stated, is fully aware of difficulties being faced by the people and wants increase in economic activity so that general public can get some relief. The government would provide all facilities for promotion of construction sector, he added and agreed to the proposal that instead of NOC, compliance with rules and regulations should be promoted in the construction sector.
The Prime Minister stated that important element of the government's policy is to use state properties of various public departments for construction of homes for low-income group.
The Premier also agreed to the proposal that regulatory bodies of construction sector must include the representatives from ABAD and beginning must be done from the Capital Development Authority (CDA).
He also directed the advisor on finance to request the high courts for constitution of special bench for early resolution of pending cases related to land and construction.
While briefing the meeting, Advisor on Finance Dr Abdul Hafeez Shaikh stated that Rs 25 billion have already been earmarked for Naya Pakistan Housing Scheme.
On the measures taken so far for the promotion of the construction sector, the advisor stated that after various meetings with Association of Builders and Developers (ABAD) as well as other relevant people, a considerable progress has been made to address the problems of the construction sector and an agreement was also reached on implementable proposals for the sector.
The advisor informed the meeting that for permanent solution of fixed tax, an agreement has also been reached with developers and builders while the government has already made a clear policy for construction of high-rise buildings, which was also discussed in the cabinet meeting on Tuesday last.
The advisor stated that with regard to valuation table, Federal Board of Revenue would appoint nomination committees for regional valuation, which would also include ABAD and real estate representatives. The committee would have powers of categorization of the areas.