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23rd February 2023 – PCJCCI keen to boost Construction Industry

23rd February 2023 - PCJCCI keen to boost Construction Industry_page-0001

PCJCCI keen to boost Construction Industry

President Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki stated this in the joint chambers’ executive committee meeting held at its secretariat on Tuesday.

Ghurki said that experts from Patents and Companies Registration Agency (PACRA) had reviewed the local construction and growth of six percent had been reported this year. They said that the sector would grow by a whopping 92 percent in the next seven years as the average annual growth could spike up to 11.8 percent. However, what they saw in 2021 was accelerated growth in the construction sector and its resulting contribution to the GDP was achieved through increased government concessions and aggressive private sector investment under the previous government. That environment was needed to drive growth within the industry to achieve this forecasted growth in the next seven years. He added that there was a dire need to stabilize the construction sector by introducing contemporary techniques and the budget-friendly infrastructure of China. He also added that with more mega-projects coming in along with a series of works under CPEC (China-Pakistan Economic Corridor), it is expected that the rating will improve in the coming years.

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