Construction not only improves the living standards of the public but also contributes towards the overall economic growth. The construction sector is linked with more than 40 industries and thus has multiple effects on the economy. Moreover, given the situation of Pakistan, a continuous growth in population and a huge housing shortage faced by most cities, the demand for houses is highly unlikely to slow down. There is a rapid growth in urbanization and the continuous struggle towards better quality of life. Consequentially, as a first step towards higher standards of living, the housing sector experiences growth.
Housing is the basic and fundamental human need, yet millions are caught in the struggle to have a roof over their head. Pakistan is faced with a chronic shortage of housing against a backdrop of a rapidly rising population. Most recent estimates identify a national shortage of 7.9 million houses. The need of the hour is to exploit the hidden potentials of the housing and construction sector, which is very well recognized to generate maximum employment opportunities for less skilled labor force, reducing poverty and raising the standards of public living. Moreover, housing and construction is closely linked with more than 40 other industries and contributes to the overall economic revival and growth. Its multiple effects on the economy have the robust potential to generate industrial activities, develop small and medium enterprises (SMEs) self-employment opportunities, business, commerce and trade activities and at the same time encouraging utilization of indigenous natural and man-made resources. Therefore, it is imperative to develop this industry to utilize the real estate and housing industry potential for the economic development of the country and certainly it has the necessary potential to become the engine of change and progress for the economy of Pakistan.
Pakistan Engineering Council (PEC) License
It is mandatory for every construction company to obtain license from PEC (Pakistan Engineering Council) in order to legally operate in Pakistan. And its have various requirements from specific qualification to authorize initial business capital.
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