ABAD celebrates lifting of ban on High-rises

BUSINESS

KARACHI – The Supreme Court of Pakistan, on Tuesday, has reverted the decision of ban on high-rise and multi-story buildings in Karachi on the plea of Association of Builders and Developers of Pakistan (ABAD) sending a wave of jubilation among construction and housing industry.

The Apex Court had banned construction of high-rise buildings in Karachi before 18 months on the ground of water shortage in the city. Almost five lacs workers of construction industry were rendered jobless and thousands of workers from allied industries.

Chairman ABAD Muhammad Hassan Bakshi thanked Chief Justice of Pakistan Justice Saqib Nisar and other members of the bench.

According to the details,  a 3-member bench of the Supreme Court headed by Chief Justice Saqib Nisar reverted the earlier order of banning construction of high rises in Karachi and said now the buildings can be constructed above six floors in the city within the prescribed regulations of the SBCA and other related laws.    

After the verdict, talking to the media Chairman ABAD said that historic verdict will not benefit ABAD but also bring positive impacts on the national economy. He also said ABAD will also play a key role in the Prime Minister Initiatives for the construction of five million houses program in Pakistan. He vowed to make the construction and housing sector the largest tax payer of Pakistan.

Hassan Bakshi also revealed that because of the ban, construction was halted on more than five hundred projects in Karachi, freezing the investment of nearly Rs. 6 billion and creating unemployment of hundreds of thousands of people. Because of the halt on construction activities many allied industries were also suffering and on the verge of shut down.

He was of the opinion that the lifting of ban on high rises will benefit national economy because the construction industry in Karachi plays the same role what the textile industry does in Faisalabad.  He also thanked the other stakeholders of construction and real estate as well as people of allied industries who supported ABAD in the efforts to end the ban on high rises.