March 28, 2024, 6:27 pm


Sohel Hossain Patwary

Published:
2020-11-02 18:54:15 BdST

Revitalising Real Estate Sector: Govt should continue support


As the country’s economy is now regaining steadily after its fallout caused by the Covid-19 pandemic, the government should continue its support for revitalisation of business in the real estate sector and allied and backward linkage industries.

Sector leaders have made the suggestion while talking to media about the all-out situation in the real estate sector.

They think that with the regaining of the real estate sector, workers and families related to around 458 backward linkages and allied industries will also get back their income support as they are the key drivers of the economy.

They said that owing to the government policy support coupling with incentive packages, allied sectors of the housing sector are slowly coming out of the jolt that they faced during the March-August period.

“The government has been providing support to all sectors to keep alive business since the beginning of the economic fallout due to coronavirus. The continuation of support is required to fully regain the business of real estate sector,” Real Estate and Housing Association of Bangladesh (REHAB) President Alamgir Shamsul Al Amin said.

It is mentionable that backward linkage and allied industries of the real estate sector almost remained stagnant for more than six months due to the pandemic, hurting around 3.5 million workers.

It is documented that around 458 types of industries are directly linked to the real estate sector. These sub-sectors, including brick, sand, rod, cement, steel, construction, glass, aluminium, cable, lighting and many other large and small industries, faced an unprecedented shock with their trade and business.

During the last couple of months, the country’s economy is coming out of its fallout driving on the positive flow of remittance and export earnings which helping to keep running the wheel of business.

As business is recovering slowly and steadily, people related to real estate sector said that the continuation of providing loan under incentive package, relaxation on loan repayment and other policy support will help the sectors which ultimately help the economy to regain.

“With the support and initiatives of the government, we are keeping our fight to win over the corona jolt on trade and business. We are committed to contributing to the economy by running our business by any means,” the REHAB president said, adding that a joint effort of the government and the private sector can keep the economy on right track.

Echoing the same, Bangladesh Cement Manufacturers Association Vice-President Md Shahidulla, who also represents Bangladesh Steel Manufacturers Association, said most of the heavy industries are related to housing sectors which contribute most to the country’s GDP.

With contributing to the national economy, these sectors are the biggest sources of employment in the country. If business in these sectors runs well, contribution to the GDP and employment will be good, Shahidullah said, urging the government to continue its support for the allied industries.

Apart from key sectors, sand, bricks, ceramic, cables, conduit PVC pipe, tiles and sanitary, Lift, sub-station, RMU, VRF, solar system, generator, fire hydrant, lightning protection, lighting work, deep tube well, PA system, intercom set, AVR, IPS industries, steel brush, polythene, door clamp, cutting foam, steel wire rope, masking tape, GI wire, rubber pipe, royal plug, aica, canvas pipe, steel drum, PVC drum, tarpaulin, nut bolt, hummer, washer, carton tape, safety belt, all kinds of tapes, helmet, steel wair, grease, foam disk, safety shoe, pipe clamps, shutter oil, bleaching powder, welding holder , curtain wall, aluminium, glass fixing grill, railing, safety shed, rolling shutter, fair face, scaffolding, steel props, fire door, cable ladder, steel structure, main gate, cloth string, louver door, boundary grill, waterproofing work, leakage treatment, plantation work, false ceiling work, sand filling, LPG system, interior, swimming pool, fountain, PVC ducting, staging, paint, light post, furniture work, epoxy flooring, toys, fair pace cluster, water replant products construction equipment such as excavator, tower crane, roof hoist, tower hoist, wheel loader, forklift truck, motor grader, road roller machine, dragline excavator, bulldozers, trenchers, compactors, dump trucks, pile boring machine and truck are major allied industries of housing sector.

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