- In the wake of corona virus pandemic situation, Prime Minister’s relief package will help provide relief to construction related workers.
- Prime Minister Imran Khan announced the opening of construction sector from April 14 to help the country’s daily wagers and laborers, to earn their livelihoods.
- He also announced various incentives for the construction sector including tax incentives, waivers and subsidies in the areas of sales tax, capital gain tax, withholding tax etc.
- Giving details of the decisions, he said that those investing in the construction sector during the year 2020, would not be asked any queries about the source of their income.
- Secondly, the Prime Minister said, the government had also decided to bring the construction sector in the fixed-tax regime under which the rate of tax on land would be levied on the basis of per square yard and per foot.
- He added that those investing in the Prime Minister’s housing programme would be given 90% tax rebate and they would be required to pay just 10% of the total calculated tax amount on their projects.
The prime minister said the decision to open the construction sector was taken because of the fact that the situation of coronavirus could not predicted. “We cannot predict what the situation will be after two or four weeks,” he remarked.
- He also announced Rs. 30 billion subsidy for Naya Pakistan Housing Programme, adding, further subsidy would be given on its progress.
- 1200 billion’s stimulus package announced by the federal government to provide financial relief to the poor and daily-wagers in the wake of lockdown due to Coronavirus.
- He said that relief to the business class during the corona virus pandemic would generate economic activities and help reduce the burden of the government.
- Pak-India Business Council has welcomed the relief package for construction sector announced by Prime Minister Imran Khan, saying it would be help generate business in the country as well as work for daily wagers.
