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Tag: Association of Builders and Developers

  • Amnesty scheme should be extended for one year: ABAD

    Amnesty scheme should be extended for one year: ABAD

    KARACHI: The Association of Builders and Developers (ABAD) has demanded the government of extending the amnesty scheme granted for boosting of construction sector.

    ABAD Chairman Fayyaz Ilyas in a statement demanded to extend amnesty scheme for real estate and construction industry by at least one year.

    He said that due to unprecedented situation created by Corona pandemic all over the country and long delay in approval of building plans in Sindh a number of builders and developers could not register their projects under this amnesty scheme.

     Fayyaz Ilyas said that Prime Minister Imran Khan had announced and once extended Special package for real estate and construction industry for economic growth through construction industry because this industry is considered the backbone of the economy all over the world.

    Under extended package, source of income will not be asked for investment in real estate and construction upto 30th June, 2021, Fixed Tax Regime for builders and developers upto 31st December, 2021 and project completion period was extended upto 30th June, 2022.

    Chairman ABAD requested the government to extend these periods atleast upto 30th June, 2022, 31st December, 2022 and 30th June, 2023 respectively so that those people can avail this package who could not avail due to pandemic and lengthy delay in project approvals.

    He said that Pakistan’s economy like other parts of the world has suffered a lot due to corona pandemic.

    It is evident that despite the second wave of corona pandemic production of cement, iron bars, paints, tiles etc have created new records, he said adding that to continue momentum of the economic growth the government should extend the Special package for real estate and construction industry otherwise the results achieved through this package will go in the vain.

  • ABAD demands abolishing regulatory duty on steel bars

    ABAD demands abolishing regulatory duty on steel bars

    KARACHI: The Association of Builders and Developers (ABAD) on Tuesday called on the government to abolish the Regulatory Duty (RD) and Additional Regulatory Duty (ARD) on the import of steel bars, emphasizing the need to stabilize their soaring prices in the domestic market.

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  • ABAD welcomes date extension for construction package

    ABAD welcomes date extension for construction package

    KARACHI: The Association of Builders and Developers of Pakistan (ABAD) has warmly welcomed Prime Minister Imran Khan’s decision to extend incentives for the construction industry until June 30, 2021.

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  • ABAD terms hike in steel, cement prices as conspiracy against Naya Pakistan Housing

    ABAD terms hike in steel, cement prices as conspiracy against Naya Pakistan Housing

    KARACHI: Association of Builders and Developers (ABAD) on Tuesday expressed concerns over sudden rise in prices of steel and cement, the basic raw material for construction industry, and termed it as a conspiracy against provision of affordable housing scheme launched by the government.

    Fayyaz Ilyas, Chairman, ABAD in a statement expressed deep concern over sudden increase in steel and cement prices.

    The ABAD chairman demanded the federal government to take stern action against these unscrupulous elements, who are trying to sabotage steps of the government for reviving the national economy.

    He said that despite the fact that most of raw materials are local, cement and steel manufacturers have raised exorbitant prices of cement and steel to a level of Rs625 per 50 kg bag of cement and Rs126500 of steel per ton, which is no way justifiable and it looks that cement and steel manufacturers cartels are hell bent upon to crush the construction industry.

    He said that cement and steel are main ingredients of construction but manufacturers of these two materials are busy minting money without any justification and the Competition Commission of Pakistan looks helpless to take any stringent steps against these cartels, he added.

    Fayyaz Ilyas said that the construction industry is the second largest job providing sector after agriculture that is the reason why Prime Minister Imran Khan is giving due importance to this industry and has started Naya Pakistan Housing scheme for those people who otherwise are unable to own their dream home.

    But, he lamented that steel and cement cartels are trying to sabotage a noble cause of the Prime Minister and dent the national economy.

    He appealed the government to take stern action against the steel and cement cartel to save the construction industry and the national economy.

  • ABAD, CDC sign MoU for digitalization of land record

    ABAD, CDC sign MoU for digitalization of land record

    KARACHI: Association of Builders and Developers of Pakistan (ABAD) and Central Depository Company Pvt Limited (CDC) on Thursday signed an historic Memorandum of Understanding (MoU) for the digitalization of land records through Land Repository System, which will be the first ever system of Pakistan and it will cater the need of Electronic Registration of Land and Land Titles.

    The signing ceremony was held at ABAD House here on Thursday.

    Vice Chairman ABAD Abdul Kareem Adhia and Badiuddin Akber CEO of CDC signed the MoU witnessed by Chairman ABAD Muhammad Hassan Bakshi, Chairman CDC Moin M Fudda, Senior Vice Chairman ABAD Anwar Dawood, Chairman Southern Region Ibrahim Habib, senior officials of CDC and members of ABAD were present on this occasion.

    Addressing the ceremony, Moin M Fudda congratulated ABAD for initiating such a gigantic work. He said that electronic registration of land documents will help abolish possibilities of fraud and corruption.

    He said that this system will help not only to purchaser of property but will help grow national economy as it will abolish corruption being witnessed in offices of Registrars at present. He said that almost 60 percent of all cases in various courts are of fraud in lands.

    He pointed out that every third person in Sindh is victim of land fraud and the new Electronic Registration System- Land Repository System will help remove any fraud.

    Chairman ABAD Muhammad Hassan Bakshi said that ABAD is working for the legal and bona fide construction activities in Pakistan and some people are accusing that builders are cheating people but 98 percent of ABAD members are doing their legitimate business. He lamented that ABAD members are wrongly accused of illegal construction activities as more than 5000 buildings are being constructed illegally and without any approval of competent authority while all members of ABAD are getting approvals before starting construction of their buildings.

    He said that Advisor to Sindh Chief Minister Murtaza Wahab has promised to land full support for the legislation of this new system.

    Addressing the ceremony CEO CDC highlighted main points of Land Repository System. Zaigham Rizvi, Chairman Prime Minister’s Task Force for Housing also spoke on this occasion. Vice Chairman ABAD Abdul Kareem Adhia thanked all guests.

  • Govt preparing comprehensive policy to develop Karachi: Ali Zaidi

    Govt preparing comprehensive policy to develop Karachi: Ali Zaidi

    KARACHI: Federal Minister for Maritime Affairs Syed Ali Hyder Zaidi has said that the federal government is preparing a comprehensive policy for the development of Karachi and the first phase of cleaning drains has been completed and garbage will be lifted in the second phase of Clean Karachi Movement spearheaded by him.

    The federal minister was addressing a meeting with members of Association of Builders and Developers of Pakistan (ABAD) here on Friday at ABAD House. Chairman ABAD Muhammad Hassan Bakshi, Senior Vice Chairman Anwar Dawood, Vice Chairman Abdul Kareem Adhia, Chairman Southern Region Ibrahim Habib, PTI MPAs Jawed Siddiqui and Bilal Gaffar were also present on this occasion.

    Ali Zaidi said that due to his efforts with the help of Frontier Works Organization (FWO) Karachi witnessed that rain water during second and third spell water was receding fast as almost all drains were cleaned. He lamented that civic sense among the public has been faded as a result of abrogation of Civic Studies from the syllabus of schools.

    He said that Rs. 100 million was donated by various entities and individuals for Clean Karachi Movement. This money, he continued, was directly deposited into the bank account of FWO opened for the Clean Karachi purpose.

    Earlier, addressing the gathering Chairman ABAD Muhammad Hassan Bakshi demanded of the federal minister to request government for declaring Karachi as the second Capital of Pakistan as this city is generating more than 70 percent revenue. He also requested Prime Minister Imran Khan to held meeting the Federal Cabinet in Karachi and also stay in Karachi for atleast fifteen days to show ownership of the city.

    Hassan Bakshi demanded of the federal government to pave way to lift ban on construction of high rise buildings in Karachi, although the ban imposed by the Supreme Court of Pakistan in lifted but still builders are not getting approvals for the same.

    Senior Vice Chairman ABAD Anwar Dawood said that it is fact that Karachi needs cleanliness but the government should also take stern action to clean garbage of corruption for the betterment of the economy and development of the country. Chairman Southern Region Ibrahim Habib thanked federal minister and PTI MPAs and media for attending the meeting.