Govt considering creation of 2 regulatory authorities for construction industry, 3-year liability period for projects

ISLAMABAD: The government is considering establishing up to two regulatory authorities for the construction industry and a three-year defect liability period for major construction projects in the country. Private sector figures in construction and the government, however, differ over the financial size for the application of a defect liability period, with the construction industry seeking a minimum threshold of Rs20 billion and the government pushing for lower amounts. These issues were discussed at an exploratory meeting, chaired by Economic Affairs Minister Ahad Cheema, on introducing…