<P> After the devastating 2005 Kashmir earthquake Pakistan has instituted stricter building codes . The cost of construction in Pakistan will increase 30 to 50% due to implementation of a new building code which requires strengthening of structures to withstand earthquake of 8 to 8.5 magnitude . The demand for cement has increased due to reconstruction after the earthquake . The price of cement has increased by 50% and Pakistan government banned export of cement to lower the prices and the reconstruction costs . </P> <P> Dubai Ports World, announced on June 1, 2006 that it will spend $10 billion to develop transport infrastructure and real estate in Pakistan . Dubai Ports World is also discussing the possibility of the company taking over operational management of Gwadar port in Balochistan . </P> <P> Emaar Properties, announced on May 31, 2006 three real estate developments in the cities of Islamabad and Karachi in Pakistan . The projects, with a total investment of $2.4 billion, will include a series of master planned communities that will set new benchmarks in commercial, residential and retail property within Pakistan . </P> <P> In addition the conglomerate signed an unprecedented $43 billion deal to develop two island resorts - Bundal Island and Buddo Island - over the next decade . (12) </P>

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