ISLAMABAD, 16 AUG (DNA) — The federal government is exploring a comprehensive reform package to revive and modernise the construction industry in the country. The package includes the creation of a Construction Industry Development Board (CIDB), a dedicated Construction Development Bank (CDB), rationalisation of import and export policies and targeted tax reforms,
The development emerged during a high-level meeting chaired by Federal Minister for Economic Affairs and Establishment Division Senator Ahad Khan Cheema to review major regulatory, operational and financial reforms for the construction sector.
The meeting was attended by Minister of State for Finance Bilal Azhar Kayani, Federal Secretary for Housing and Works Captain (retd) Mahmood, the Public Procurement Regulatory Authority (PPRA) managing director, representatives of the Construction Association of Pakistan (CAP) and senior officials concerned.
Under the proposed reforms, the CIDB would have a dual mandate of promoting the development of the construction sector and regulating industry standards, contractors and consultants. Comprising representatives from the public and private sectors, the board would provide a unified platform for improving construction standards nationwide.
Senator Cheema said that the federal government and CAP were fully aligned on the need for such a body, adding that its proposed framework would be formally submitted to Prime Minister Shehbaz Sharif for final approval. — DNA
