Prime Minister Imran Khan has extended the construction package by one year. The sources of capital used in property transactions will not be questioned for six months next year.
Addressing the nation, PM Imran said that projects worth of Rs hundred and 86 billion have been registered on the portal of the Federal Board of Revenue while construction projects worth of Rs 163 billion have been launched in Punjab. The promotion will start economic activities worth of Rs 1,500 billion in Punjab.
He said that the projects launched by the government would create thousands of employment opportunities, also provided a package for low cost construction projects for the salaried class, banks would extend all possible cooperation for the construction of low cost houses, banks said. Has allocated Rs 378 billion for the construction sector.
PM Imran Khan said that loans would be given at the rate of 5 to 7 percent for low cost houses. In the first phase, Rs. 300,000 would be provided for the construction of one lakh houses..
Digitization of Karachi, Lahore and Islamabad will be completed by August, records of government lands in the three major cities will be compiled, fixed tax regime for the construction sector has been extended till December 31, 2021, the first government since the 1960s to enter the industry.
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