Abstract:
Construction sector and construction activities are considered to be one of the major sources of economic growth, development and economic activities. Construction and engineering services industry play an important role in the economic uplift and development of the country. It can be regarded as a mechanism of generating the employment and offering job opportunities to millions of unskilled, semi-skilled and skilled work force. It also plays key role in generating income in both formal and informal sector. It supplements the foreign exchange earnings derived from trade in construction material and engineering services. Unfortunately construction sector is one of the most neglected sectors in Pakistan. Although the construction sector has only a 2.3 percent share in GDP, its share of the employed labor force was disproportionately large at 6.1 percent in FY07. The construction sector is estimated to have grown by 17.2 percent in 2006-07 as against 5.7 percent of last year. The higher demand for construction workers is also reflected in a continued double-digit rise in their wages since FY05. Their wages increased by 11.1 percent in FY07. The purpose of this study is:• To examine the contribution of construction sector in Pakistan economy. • To identify the relationship between construction sector and economic growth in the case of Pakistan and • To identify whether there is a unidirectional or bidirectional causal relationship.
Page(s):
279-290
DOI:
DOI not available
Published:
Journal: Proceedings of International Conference on Construction in Developing Countries , Volume: 4, Issue: 5, Year: 2008