SM Tanveer urges relief measures to revive Pakistan's housing industry

LAHORE (Dunya News) – United Business Group (UBG) Patron-in-Chief SM Tanveer has called for relief measures to revitalize the housing industry in the country.

Addressing a press conference, he pointed out that Pakistan’s housing industry is facing a critical shortage, with over 12 million homes needed nationwide.

Tanveer emphasized the importance of upcoming government measures to revive the sector. He noted that Prime Minister Shehbaz Sharif is expected to announce a package aimed at boosting the housing industry, which could play a significant role in economic recovery and job creation.

He stressed that 78 industries are linked to the construction sector, and previously, home construction provided employment for around 5 million people. However, construction slowdowns have resulted in massive job losses.

“The country needs a concerted effort to overcome this crisis. When profits in construction declined, investors pulled out,” Tanveer said.

He also urged the government to immediately address tax categories for filers, non-filers, and late filers to streamline the process.