Imran Khan unveils Stimulus Package for Construction sector

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.

• 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 Naya 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.