DAP stalling housing sector, threatening economy: REHAB
Business Desk :
Leaders of the Real Estate and Housing Association of Bangladesh (REHAB) and housing related associations on Thursday blamed the Detailed Area Plan (DAP) for the ongoing stagnation in the country’s housing sector.
Stakeholders from more than 20 linkage industries-including steel, cement, bricks, cables, and ceramics-expressed concern over the situation at a meeting held at the REHAB office in Dhaka.
REHAB President Md. Wahiduzzaman chaired the meeting, reports UNB.
They alleged that the DAP has created an unfavourable environment for investment and development in housing.
Participants said that many housing-related industries have already scaled back production to cut costs, with some being forced to lay off workers amid the slowdown.
They also raised concerns over discriminatory tax policies affecting businesses in the sector.
If this stagnation continues due to DAP, the wheels of the economy will gradually come to a halt, unemployment will rise, job creation will decline, and the GDP could take a significant hit, they said.
They urged the government to take immediate measures to address the situation, cautioning that the economic impact of a stagnant housing sector is becoming more visible each day.
Sheikh Masudur Rahman Masud of Bangladesh Steel Manufacturers Association, Eng. M. A. Wahab, Vice President of Bangladesh Association of Construction Industries, Md. Akhter Hossain Dhali, Senior Vice President of Bangladesh Electrical Cables Manufacturers Association, Eng. Md. Abdul Awal, President of Bangladesh Readymix Concrete Association, Md. Ismail Hossain of Mosaic Merchants Association, Mohammad Hossain Alamgir, President of Bangladesh Glass Merchants Association, Emdad Ur Rahman were,among others, present.
Owners and representatives of more than 20 linkage companies including rods, cement, bricks, sand, stone, cables, tiles, and sanitary, participated in the meeting.
REHAB Senior Vice President Liaquat Ali Bhuiyan and Vice President Eng. Abdul Latif, Vice President Finance Abdur Razzak, Chairman of the Press and Media Committee Mohammad Labib Billah, REHAB Directors Md. Kamrul Islam, Md. Ayub Ali and other leaders were present at the meeting.