ISLAMABAD: The government is looking to boost the contribution of construction industry to the GDP by attracting investment. According to the Economic Survey of Pakistan 2020-2021, the construction industry contributes 2.53 percent to the GDP and employs 7.61 percent of labor force. This sector provides around PKR380 billion in the GDP, WealthPK reported.
The Pakistan Bureau of Statistics (PBS) estimates that the public Gross Fixed Capital Formation (GFCF) in construction grew by 18% in the Financial Year (FY) 2021. The upsurge was due to a rise in infrastructural development by the Capital Development Authority and Lahore Development Authority.As per the State Bank of Pakistan, housing and construction financing grew by 84% in FY2021 due to the amnesty scheme and government subsidy, and by September 2021, the outstanding amount to the sector reached PKR305 billion, up from PKR166 billion in September 2020. –INP
