Prime Minister Imran Khan has announced a novel package for the construction industry that will broaden the scope of the construction industry in the country. This package is announced after PM declared 100 billion tax relief for the construction industry. PM has also announced an E-Stamping system going to be introduced by all provinces in line.

It is announced that builders will not be required to withhold tax on purchases except for steel and cement.

In projects developed by NPHDA, the tax rate will decrease to 90 percent.

FBR has started the process of a new valuation of urban real estate due to the wake of covid19.

Any kind of dealing with the first house, be it construction, purchasing or sale shall be exempted from all taxes.

In this declaration, Capital Gain Tax (CGT) will not be applicable to selling properties.

Another policy on high rise construction has also been approved by the PM. Notification in this regard has been issued for Islamabad Capital Territory.  This notification has not yet been issued for other cities.

Subsidy of 30 billion rupees will be paid by the government in accordance with the Naya Pakistan Housing Scheme.

In the wake of the current situation, Prime Minister Imran Khan has announced this package for the construction industry to support the people of the country. Prime Minister said that this package is going to be a novel and vital project in the history of Pakistan Construction Industry. This package will provide jobs to a number of people and the economy of the country will also sustain eventually.