Pakistan to Establish Construction Industry Development Board (CIDB)

The government is set to establish the Construction Industry Development Board (CIDB) to regulate standards, ensure quality, and provide strategic oversight for Pakistan’s construction sector. This initiative is part of a broader development package considering a Construction Development Bank (CDB), tax reforms, and rationalised import/export policies. Federal Minister Ahad Cheema emphasised CIDB's dual role in development and regulation, extending the Defect Liability Period for public projects to three years and holding consultants accountable. While these reforms aim to bolster the economy, their long-term nature means no immediate significant impact on gold or USD/PKR rates is anticipated.

بحوالہ / Source: www.brecorder.com