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Government Introduces Strong Mechanism for Realty Sector

21/02/2020

Government Introduces Strong Mechanism for Realty Sector

Real estate is one of the most valued and prized sectors in Pakistan and can play a vital role to uplift the country's economy. On the contrary, it is also true that this sector is still unable to show its true worth. To offer maximum yield to investors and to attract premium investment, our real estate sector has to face several difficult times; first in terms of devising strategies and then implementing it and secondly, the political scenario has never been conducive enough to make this sector flourish independently.

The current government has decided to introduce much-needed reforms to make the most from this sector and to make it fully functional. Islamabad Special Assistant to the Prime Minister on Information and Broadcasting Dr. Firdous Ashiq Awan said that the government had introduced a strong regulatory mechanism for real estate sector to purge the small investors from the mafia's fraud and deception under a proper legal cover.

"The reforms, introduced by the government in this sector on the instruction of Prime Minister Imran Khan, reflect that the government is guardian of each penny of those investors who belong to salary and poor classes and make investments to get their own shelters in housing projects," she said this while inaugurating a property expo at Pakistan China Friendship Centre.

"Now, nobody can deceive the authorities and whisk away by luring innocent people in their trap as the government is closely monitoring the mechanism of every project in real estate sector from its launch to completion," stated ahead. She also mentioned that the government has initiated few other programs such as "Digital Pakistan" to make use of latest technologies in different sectors and especially, to help in regulating the real estate sector.

However, not all the private developers are happy about the strict reforms and expect the government to soften the reforms in the sector in order to attract more investment from potential investors.

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