Prime Minister Imran Khan has said that the construction industry has only till December 31 to avail of the exemptions and concessions announced by the government after the spread of coronavirus in the country.
In April, the prime minister announced a tax amnesty scheme for the realty sector, which allowed people to invest in the construction industry without disclosing their sources of income.
Addressing the media after the National Coordinating Committee, he said, 'Take advantage of the concessions before December 31 this year. The NCC meeting in Islamabad on Friday.'
Pakistan, which remained on the FATF's gray list earlier this year, was given more time in April to report on its performance in implementing the remaining recommendations of the global watchdog during the coronavirus crisis.
Prime Minister Imran said he had formed a committee to remove procedural hurdles in the construction industry and expedite work on his government's flagship project the New Pakistan Housing Scheme.
He said an increase in construction activity would help revive the economy, which is currently in recession due to the COVID-19 epidemic. 'The whole world is in recession and the problem is not limited to Pakistan.'
Elaborating on the New Pakistan Housing Scheme, the Prime Minister said that the government has allocated a subsidy of Rs. 30 billion for the construction of a low-cost housing scheme for the middle class.
'The government will provide a subsidy of Rs 30,000 for each house sold under the New Pakistan Housing Program.'
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