ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Acting President Shakeel Munir said while quoting a World Bank (WB) report that Pakistan was facing acute shortage of housing units and needs to build 1 million houses per year to cope with the rising demand of people.
The real estate sector plays a vital role in activating almost 40 allied industries and creating jobs and government should focus on promoting this industry to boost economic activities, said Shakeel Munir while addressing a delegation of the Islamabad Real Estate Welfare Association (IREWA) that visited ICCI led by its President Abid Khan.
He said the US, China and other strong economies achieved fast economic growth by promoting real estate industry and Pakistan should also facilitate the better growth of this sector to achieve economic benefits associated with its development.
Munir urged the government to support the real estate industry and address its key issues to provide better living facilities to the people. He also congratulated Abid Khan and other office-bearers of the IREWA and hoped that the first elections of the association in Islamabad would play a positive role for the betterment of businessmen linked to real estate sector.
Abid Khan vowed to work for the welfare of the real estate sector. He said the better development of real estate industry was important for the country as it promoted many other industries and gave boost to economic activities. He urged the government to provide incentives for investment in this sector.
ICCI Vice President Ashfaq Hussain Chatha also congratulated the newly-elected office-bearers of the IREWA and stressed for the need of supporting this industry as it has a lot of potential to develop and achieve beneficial results for the economy.
The IREWA delegation consisted of Patron-in-Chief Muhammad Arshad, Chairman Nadeemuddin and General Secretary Rana Altaf.
