Following the ban on high rise buildings and skyscrapers, commitment of US$250 million made during ABAD expo 2017 were now at risk, said by Arif Jeewa, chairman, Association of Builders and Developers of Pakistan.
He said that investors now appear reticent in pouring investments worth Rs900 billion in the city that led to jobs cut and anticipated that if the said ban persists, two million workers including engineers, architects and other skilled and unskilled labours would lose their jobs.
He feared that the city’s law and order situation, which came to normalcy after rangers’ ongoing operations, was expected to be hit again, due to the said reason Chairman ABAD said that flight of capital would also be expected and if some 308 construction projects which were pending at SBCA for months were approved, over Rs600 billion fresh investments would pour in construction sector. He also hinted at starting agitation against the concerned authorities in case of no letup in ongoing turmoil.
