📌 Key Highlights & Quick Takeaways:
- The government is preparing major reforms in the construction sector to promote construction in the country.
- Under the chairmanship of Federal Minister for Economic Affairs Ahad Cheema, a meeting regarding reforms in the construction sector was held.
- The federal minister directed further consultations on various aspects of reforms and expressed his determination to make every possible eff.
Under the chairmanship of Federal Minister for Economic Affairs Ahad Cheema, a meeting regarding reforms in the construction sector was held, in which Secretary Housing gave a detailed briefing regarding the proposed reforms.
The federal minister directed further consultations on various aspects of reforms and expressed his determination to make every possible effort to strengthen the construction sector and improve the implementation of projects.
During the briefing in the meeting, it was informed that the proposal to keep the guarantee amount of the contractors in profitable accounts during the defect liability period is under consideration. It was also proposed to return the principal amount with profit to the contractors after completion of the stipulated period. The objective of this initiative is to formulate a proposed procedure for financial matters related to construction projects.
