ISLAMABAD- Prime Minister Imran Khan on Thursday said promotion of construction sector was key to stability and growth of the country's economy and directed the chief secretaries to expedite the process of approval of pending applications for construction sector.
Chairing a weekly meeting of National Coordination Committee for Housing, Construction and Development, the prime minister said priority would be given to the investors associated with this sector besides, facilitating builders and developers.
Expressing satisfaction over the progress being made in housing and construction sector, the prime minister also asked them to ensure that decisions on all applications were completed within the stipulated time.
The meeting was attended by Minister for Information Senator Shibli Faraz, Special Assistants Malik Amin Aslam, Lt Gen (retd) Asim Saleem Bajwa, Dr Shahbaz Gill, Governor State Bank of Pakistan, Chairman Naya Pakistan Housing Authority Lt Gen (retd) Anwar Ali Haider, and secretaries of relevant Ministries. The chief secretaries attended the meeting through video-link.
The CDA chairman apprised the prime minister of the progress on incentives given to construction sector in Islamabad Capital Territory, the approvals given for commercial and residential construction, future projects, Park Enclave III project, auction of commercial plots in Blue Area and automation of CDA.
The prime minister was informed that the fee for floor area ratio had been reduced by 55 percent, and insurance and mortgage facilities have been simplified.
Also, the lease issues have been resolved and a representative of the Islamabad Chamber has been included in the design voting committee.
It was also highlighted that the problems of E-11 sector had been resolved, and since mid-June, 429 out of 578 applications for residential and commercial projects had been approved while work on the rest was in progress.
The CDA chairman said the projects would create 15,000 to 20,000 jobs.
Referring to the Park Enclave-III project, he mentioned that very encouraging response was received from the people. The auction of commercial plots in Blue Area will be held on September 21, 22 and 23, he added.
The chief secretary Punjab said that since July 1, 2129 applications had been received out of which 1285 have been approved while 844 were in the process of approval. The meeting was informed that the scope of the business registration system had been extended to the entire province in a single day.
The chief secretary Khyber Pukhtunkhwa said out of 1935 applications, 802 commercial, 332 residential and 64 housing societies had been approved while the rest are under consideration.
The chief secretary Sindh and the chief secretary Balochistan also briefed the prime minister on the approvals given so far and the steps taken to simplify the system.
The chief secretary Balochistan briefed about reduction in tax rate similar to Punjab, adding that work was underway to launch Portal and one-window facility for construction sector.