ABAD warns govt against further squeezing construction sector

KARACHI: Association of Builders and Developers of Pakistan (ABAD) has warned the government that unilateral decisions regarding the construction industry will prove fatal for the economy of Pakistan and builders and developers will have no choice other than moving their businesses out of the country.

ABAD has reacted on the decision of the SECP and SBP to constitute a joint SECP-SBP committee in order to improve the regulatory regime to make recommendations for effective regulation of the real estate sector to the federal and provincial governments.

Arif Jeewa said it was duty of the government to regulate various sectors of the national economy but it was also the duty of the government to protect local industries.

Senior Vice Chairman Arif Jeewa demanded of the government to direct the SECP and the SBP not to try to squeeze the construction sector.

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