Housing shortfall hits 12m units

More than 12 million houses are required across the country and the demand is rising due to negative growth in this sector. Some banking experts said the liquidity coming out from banks due to falling interest rate is expected to enter the property market and this could stimulate growth in the housing and construction sector. Builders and developers are, however, hopeful the housing sector will stimulate growth and more than 70 allied industries will generate employment as well as boost the economy. “We presented our suggestions to Prime Minister Shehbaz Sharif. He appreciated the suggestions, but said he does not want only ‘files’ business. He is willing to accelerate the housing and construction sector for the benefit of low-income families,” said Hassan Bakhshi, Chairman of the Association of Builders and Developers (ABAD). He had attended a recent meeting with the prime minster.