Dr. Akhtar Hasan Rizvi on COVID-19's impact on real estate : The main task now is to find solutions to uplift the economic conditions
In an exclusive interaction with Good Newwws, a prominent developer and former Rajya Sabha member Dr Akhtar Hasan Rizvi opened up about how the current situation has affected the construction industry and how the centre is planning to adapt to the new normal.
Real estate is one of the sectors which has been adversely affected due to the outbreak of the Coronavirus pandemic. Although in the initial period the industry was entirely non-functional, now the government is taking essential steps for running the business efficiently.
In an exclusive interaction with Good Newwws, a prominent developer and former Rajya Sabha member of parliament Dr. Akhtar Hasan Rizvi opened up about how the current situation has affected the construction industry and how the centre is planning to adapt to the new normal.
“During the lockdown, the construction industry along with other industries was totally closed and its functioning was prohibited. Many builders waited at the beginning with a hope that this phase may get over, but as it was being prolonged the uncertainty prevailed and many lost good jobs and daily earnings. Workers went back to their native places so that at least they’ll get food to eat. The economy suffered in a bad way”, said Akhtar Hasan Rizvi while talking about the condition of real estates amid pandemic.
Furthermore, the former Rajya Sabha member went on to add how the government has started giving concessions to begin the unlock down. He mentioned, “As time passed the government thought that more people may die due to economic problems than the COVID itself. So they started giving concessions by issuing a few guidelines. The main task before the government now is not to find the vaccines or drugs but to find solutions to uplift the economic conditions of the country. Freedom has been given to the industries, offices, malls, commercial places to start functioning with occupancy of initially 30%, 50% then to 100% but in a place like Mumbai, the manpower is the expatriates from northern and southern India. The ministry should try to build the confidence in them to come back to work”.
Besides the issues of lockdown and economic problems, Dr Akhtar Rizvi also stated that the country needs more thinkers and experts who would sit and plan strategies, to ease conditions of permissions of the functioning of the factories. “The country has to have bureaucrats who are positive to help development, think fast and implement whatever is decided. All those who are the heads of a particular department can gather their team, sit with them, have the debate on the issues and come up with creative ideas to solve them. If every department takes a step to find a solution, implement it and keep watching the progress, there's going to be a change, the economy is going to shoot”, averred the entrepreneur.
Lastly, advising on the effective functioning of the state he said that the government and its departments should work like military operations in a disciplined, organised and dedicated manner.
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