Construction Industry has made remarkable progress during the financial year 20-21 due to the incentives granted by the government, said The National Coordination Committee while letting know the Prime Minister about the progress of the construction sector.

According to the report the government has taken many vital steps for this sector i.e the approval of projects through one window digital portal, housing and development finance by banks, reduction in provincial taxes, and introduction of a fixed tax regime for housing and construction.

There is a 100 % increase in the approved million square feet area as compared to the previous year in Punjab as a result of approvals granted for residential projects by LDA, RDA, FDA, and MDA. Moreover, in 20-21, a total of 23,492 projects worth Rs360 Billion have been approved. Economic expected turnover because of construction activity is Rs1802 Billion. This has reduced the unemployment level by creating over 311,321 jobs in the province.

Furthermore talking about the province KPK, they added that the approval for residential projects is 8.38 million square feet in 2020/21 and for commercial projects is 11.77 million square feet in 2020/21. There is a 100% increase in the approved million square feet area of both residential and commercial projects compared to the previous year. In 2020/21, total 4,664 projects of worth Rs 70.54 Billion have been approved. Economic expected turnover because of construction activity is Rs 352.7 Billion This created over 60,463 jobs in the province.