| Lahore: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki has announced that Chinese construction materials and techniques will soon be incorporated into the Pakistani construction industry, the news sources reported on February 23.
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During an executive body meeting at the PCJCCI Secretariat, Ghurki said that the introduction of Chinese construction materials and techniques could revolutionize the sector and provide much-needed support to Pakistan’s economic growth. He also revealed that experts from the Pakistan Credit Rating Agency (PACRA) had reviewed the local construction industry and reported a growth of 6% this year. The experts predicted that the sector could grow by a massive 92% in the next seven years, with an average annual growth rate of 11.8%.
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Ghukri also stressed the need to stabilize the construction sector by introducing contemporary techniques and budget-friendly infrastructure from China. With more mega-projects expected to come under the China-Pakistan-Economic-Corridor (CPEC), Ghurki expressed optimism that the sector’s rating would improve in the coming years. |
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