KARACHI: The country’s construction sector emerged as the leading recipient of the foreign direct investment (FDI) during the first six months of current fiscal year with inflows concentrated in the China-Pakistan Economic Corridor (CPEC) related projects.
The construction sector received $288 million during the six months under review despite an 18 per cent slump against the $351m received during the same period last year.
However, the construction and housing sector representatives were not optimistic with high FDI figures lamenting that the overall construction and housing sector is in trouble due to legal proceedings initiated by the government and judiciary.
Property developer and senior member of the Association of Builders and Developers (Abad) Abdul Hameed said that, “I am sure these FDIs are coming under the CPEC and not for the general construction and housing industry in the country”.
Published in Dawn, February 2nd, 2019