In the time of the pandemic Imran Khan has played a masterstroke
to stabilize the economy of Pakistan. The recently announced stimulus package
for the construction sector of Pakistan can turn the tables.
Speaking with the media over COVID-19, he also announced this
historic relief package for the construction sector.
Imran Khan, since the first day of his government, has shown
keen interest in the construction sector. He said several times regarding the
construction sector, which is directly linked to 80 more sectors and is the
bedrock of Pakistan’s economy.
While unveiling the package, he Declared that there would be no
need to maintain a source of income for all those who will be investing in the
construction sector this year.
The following are the complete incentives announced by the Prime
Minister for the construction sector.
He said sales tax is
also being cut in coordination with the provinces. There will be no capital
gains tax for a family that sells its house.
·
No question will be asked about investment in the construction
sector this year.
·
Fix Tax Regime for the construction sector.
·
90 percent Fixed Tax will be waived off if invested in Nayaa
Pakistan Housing Scheme
·
All With-Holding Taxes waved off
·
Federal Government will discuss with Provinces regarding sales
tax reduction. Punjab and KPK have reduced sales tax to 2 percent
·
No Capital Gain Tax will be charged in case of Family house sell
·
Rs 30 Billion Subsidy for Naya Pakistan Housing Scheme
·
Status of Industry to the Construction sector
·
Construction Industry Development Board to be established for
the development of the Construction Industry
After this historic relief package, the economist and real
estate experts are predicting the astonishing growth of the Pakistan real
estate and construction sector with a significant amount of capital involved in
the industry.
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