ABAD pins hope on PTI govt for economic revival

BUSINESS

KARACHI: Association of Builders and Developers of Pakistan (ABAD) Chairman Arif Yousuf Jeewa, welcoming Imran Khan and the PTI for their victory in general election 2018, said that if the PTI fulfilled what they had promised in their manifesto, the economy of Pakistan will begin to flourish within a year.

 

He expressed his hope that the PTI government will deliver what they have promised. But people will have to be patient, he said adding that I believe there will be a visible change within one year.

 

He said that the PTI’s plan to build five million affordable low-cost housing units is achievable; however, if the target is half met i.e. 2 to 2.5 million houses are constructed; it would also have a huge impact on the national economy as it will create thousands of jobs and will give a boost to over 70 allied industries. He recalled that Mian Nawaz Sharif had promised to construct 0.5 million low-cost houses, but did nothing to meet even an achievable target.

 

Chairman ABAD said that Asad Umar is a competent person as finance minister and will take country’s economy to a height as he is a man of vision and hopes are high as the construction industry is hopeful that he will deliver what he will say.

 

He suggested restructuring of the Federal Board of Revenue (FBR) as highlighted by Imran Khan in his first-ever speech after victory in the elections. Arif Jeewa said that reduction in tax rates is needed to expand the tax net and increase tax collection.