Why is this Sector Important?
Pakistan’s construction industry has always been of economic and social significance to the country.
However, the share of the construction industry in Pakistan’s economy is not as big as we see in other countries, whereas we see a lot of demand for new houses, apartments, and many other related structures in Pakistan.
(Envisioning a Bright Future for this Sector)
Use of advanced technology to improve the quality & minimize the cost. Training for the laborers to become skilled labor which improves the quality of work & chances of employment.
(Major problems and issues for this sector that require innovation and use of technology)
The construction sector has contributed between 2.3% and 2.85% in the last five fiscal years to Pakistan’s GDP (it was valued at Rs 316 billion in the Pakistan Economic Survey 2019-20)
Education: Most parts of the country particularly rural areas are lacking education/understanding & solutions.
Employment: The construction industry is a prime source of employment generation offering job opportunities to millions of unskilled, semi-skilled, and skilled workforces.
Investment: Lack of vision, mainstream banks are hesitant/reluctant to provide funds for large constructions.
(A list of sample ideas to get innovators started. Innovators are encouraged to explore a variety of viable solutions.)
The housing and construction sector in Pakistan can play an important role in developing the aggregate economy and reducing unemployment.
Indoor / Outdoor Designs, Ecological Construction, Cost effective & Tech Solutions