Prime Minister Imran Khan on Thursday, extended tax relief for construction sector by another 12 months till December 2021.
In his televised address to the nation, PM Imran Khan apprised that the construction sector is expected to generate Rs 1,500 billion in revenue as the government has extended its fixed tax policies for the construction industry.
The premier also revealed that projects worth Rs 186 billion were registered with the Federal Board of Revenue (FBR), along with Rs 116 billion worth of projects are in the process of being drafted, whereas projects worth Rs 136 billion are underway.
Subsidy of Rs 30 billion will be provided to low income people enabling them to get their own house under affordable housing scheme, adding that loan subsidy at the interest rate of five and seven percent respectively will be available on houses of five Marla and above, he said.
Government is fully committed to boost the construction sector and encourage wealth creation aimed at creating jobs for youth and debt repayment.
It is a good sign that record sale of cement and steel has been witnessed, which shows boom in the construction sector, PM Imran Khan noted.
PM Imran khan reassured that the government is focused on addressing public issues especially regarding metropolitan cities such as Karachi, Lahore and Islamabad.