Business

Hammad reiterates commitment to promote construction industry

Written by The Frontier Post

F.P. Report

ISLAMABAD: Federal Minister for Finance, Revenue, Industries and Production Muhammad Hammad Azhar Friday reiterated the government’s firm commitment to further promoting the construction industry as it had triggered an impressive growth underpinning V-shape recovery amid the COVID-19 pandemic.

The minister was talking to a delegation of Stone Crushing Associations that called on him here, a Finance Ministry news release said.

The delegation was led by Minister for Labour and Human Resource, Punjab Ansar Majeed Khan while Additional Secretary Industries and Production, Member (Operations) Federal Board of Revenue and other senior officers also participated in the meeting.

Hammad Azhar outlined various stimulus measures taken by the government to support the overall construction industry that had led to a strong rebound in economic activity during the crisis.

He said stone crushing was of fundamental importance as it provided building blocks for the construction industry. He lauded the valuable contribution of the industry and assured full cooperation and facilitation on the occasion.

The minister directed the FBR to hold consultative sessions with the representatives of the association and work out modalities for smooth enforcement of taxation benchmarks (with sub-categories) after evolving consensus among key stakeholders.
Earlier, the Stone Crushing Association members briefed the minister about the operations of the stone crushing Industry, which, they said, was an important pillar of the construction industry as a whole.

The delegation also apprised the minister about the matters related to taxation, especially sales tax, and requested to streamline the whole process by removing anomalies to facilitate the stone crushing industry across the board.

The delegation members also complimented the minister on assuming additional responsibilities and thanked him for his continuous support and facilitation.
Meanwhile, Chairman of the Zarai Taraqiati Bank Limited (ZTBL) Board, Nadeem Lodhi and ZTBL President Mohammad Shahbaz Jameel Friday called on the Federal Minister for Finance, Revenue, Industries and Production Muhammad Hammad Azhar.

The ZTBL Board Chairman briefed the finance minister about the working and operations of the Bank. ZTBL, a leading agro-financing bank in Pakistan, has been extending loans to poor farmers aimed at boosting national agriculture and empowering farmers at the grass root level.

He also updated the finance minister about formation of the new Board and assured to further enhance the capacity of the bank in boosting agro-farming in the country.

The minister expressed satisfaction with the steps taken to reform ZTBL Board and hoped that the new management would augment the specialized operations of the bank.

He affirmed support and facilitation to the newly-appointed ZTBL Board Chairman and ZTBL President for smooth working on the occasion.

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