ABAD to help achieve Prime Minister housing targets

Lahore: Engr. Akber Sheikh has been elected as the Chairman of Association of Builders and Developers ABAD North, for the year 2013 14. Engr. Akber Sheikh is a senior Engineer with over 45 years of experience in various sectors of construction industry. He has previously served as Chairman of Constructors Association of Pakistan CAP, Chairman of All Pakistan Textile Mills Association APTMA and is presently serving on the Governing Body of Pakistan Engineering Council. In his inaugural remarks Engr. Akber Sheikh said that with the focus on development by the present government, ABAD can play an important role in achieving the targets. He specially recalled the Prime Minister’s housing programme. Wherein ABAD members can give valuable input in policy formulation and subsequent execution of the programme.

Engr. Akber Sheikh stated that construction and real estate sector, with 12% share in GDP, is the largest sector of Pakistan’s economy after agriculture and is major contributor to taxation. This sector is largest in terms of employment created also. He further said that ABAD members operate in the documented formal sector and their contribution to the economy should be acknowledged by the economic planners. ABAD members are also a source of attracting foreign remittances and encouraging overseas Pakistanis in maintaining their roots in Pakistan.

Engr. Akber Sheikh emphasized the need for the government agencies, both federal and provincial to encourage ABAD for undertaking growth of this important sector. He said that increased spending on housing and infrastructure has the potential of increasing GDP growth by over 5%. Every one hundred thousand housing units add 1.5 to 2.0 percent of GDP, said Akber Sheikh.