Friday, July 10, 2020

Pakistan: ABAD terms Construction Incentives as historic

Featured

Biden says his economic plan will create 5 million US jobs

US Democratic presidential candidate Joe Biden on Thursday pledged to spend $700 billion on US-made products and industrial research,...

Brazil President Bolsonaro tested positive for coronavirus

Brazilian newspaper "Atardi" confirmed that Brazilian President Jair Bolsonaro underwent a fourth test for Coronavirus after he showed some...

SBP calls meeting of Bank Presidents, top builders on Naya Pakistan Housing Program

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Chairman Association of Builders and Developers of Pakistan (ABAD) Mohsin Sheikhani has termed the incentives announced by Prime Minister Imran Khan as a historic package for the construction industry of Pakistan and this package will prove a turning point for the economy of Pakistan.

Commenting on incentives announced for the construction sector, Mohsin Sheikhani said that ABAD was demanding incentives for the construction sector because more than 70 allied industries are depending on the construction sector. He said that we are indebted to Prime Minister for reviving the construction industry.

He said that Prime Minister has announced that no question will be asked about investment in the construction sector this year, Fix Tax Regime (FTR) for the construction sector, 90 percent Fixed Tax will be waived off if invested in Naya Pakistan Housing Scheme. With Holding Taxes waived 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 and much-awaited Construction Industry Development Board to be established for the development of Construction Industry.

We are wholeheartedly grateful to the Prime Minister and also request him to announce a universal policy for approval of building plans throughout Pakistan so builders and developers can start construction as early as possible.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Biden says his economic plan will create 5 million US jobs

US Democratic presidential candidate Joe Biden on Thursday pledged to spend $700 billion on US-made products and industrial research,...

Flocking together gurus of a feather

Dr. Pervez Hoodbhoy and LUMS Management are the focal points of discussion by the concerned academic circles home and abroad. The point is not...

Brazil President Bolsonaro tested positive for coronavirus

Brazilian newspaper "Atardi" confirmed that Brazilian President Jair Bolsonaro underwent a fourth test for Coronavirus after he showed some symptoms, which was a positive...

PIA flight from Toronto to Islamabad will operate on 5 July 2020

PIA flight from Toronto to Islamabad will operate on 5 July 2020. Another PIA flight will operate from Toronto to Lahore on 10 July...

Sacrificing role models of media

Remember Anil Datta, a gem of a reporter and guru of a sub-editor with the exemplary national spirit, foregoing job offers from the foreign...

Related News