Construction and real estate industry showing an increasing trend.

Byline: Khalil Ahmed

* Year 2021 is bright and prosperous for Pakistan economy

Interview with Mr Khalid Tawab - Chairman, Tawab Group of Companies

PAGE: Tell me something about yourself and your career, please:

Khalid Tawab: I am Chairman of Tawab Group of Companies which is renowned named in the manufacturing of paper, board and steel. I have served as Senior Vice President and Vice President of FPCCI and Karachi Chamber respectively.

I am honorary Consul General of Mozambique since 1989. President of Pakistan awarded me Sitara-e-Imtiaz in 2009 in recognition of my outstanding public services. My company got two time FPCCI Exports Awards and one time International Asia Award due to highest exports. I am also philanthropist and trustee of Aiwan-e-Tijarat-o-Sanat hospital.

PAGE: Your views on the incentives offered to the construction sector:

Khalid Tawab: The government has extended the fixed tax regime for the construction sector to December 31, 2021 which is a good step and will help the economy during the period of COVID-19 to provide employment to skilled and unskilled labor force. This scheme was introduced in April 2020 and gives positive outcome due to investment in CPEC related projects and government infrastructure projects. Despite COVID-19, this sector grew positively in FY20 by 8.0 percent and also show positive trend in FY21. The construction is a big sector whereon 72 allied industries are dependent. The growth of construction sector also boosts the demand of these 72 allied industries.

I think that the government announced incentives for construction industry at right time when the world is facing pandemic and during to this most of the countries have locked down their activities and international activities were suspended. In this situation, the incentives of construction sector supported overall economy by minimizing losses and creating employment opportunities.

PAGE: What is your take on the performance of the real estate and construction sector?

Khalid Tawab: Since the start of FY21, both construction and real estate industry are showing an increasing trend which will definitely improve our economic growth. Moreover, the housing scheme of government sector will also improve this sector in the FY21. The government's ongoing large infrastructure projects, such as Diamer-Bhasha dam, Mohmand dam, highways (Sukkur-Multan motorway, Lahore Multan...