Pakistan Property Portal, Website
Pakistan Property Portal, Website Dark Mode Light Mode
Blogs News Event Area Guide Careers Register Agency Corporate Login

ABAD welcomes incentive package for construction industry

Real Estate News
06 Apr 2020
ABAD welcomes incentive package for construction industry

ABAD welcomes incentive package for construction industry

Karachi: Association of Builders and Developers of Pakistan (ABAD) has lauded the incentive package for the construction industry announced by the Prime Minister earlier.

ABAD Chairman Mohsin Sheikhani termed the incentives announced by the Prime Minister Imran Khan as a historic package for the construction industry, which is now given the status of an industry. According to him, it would be a ‘turning point’ for the economy of Pakistan.

ABAD was demanding incentives for the construction sector because more than 70 allied industries were depending on the construction sector. “We are indebted to the prime minister for reviving the construction industry.”

While announcing the package, the PM said that no question would be asked about investment in the construction industry this year and added that there would be a fix tax regime (FTR) for the industry. He also announced that a 90 percent fixed tax would be waived off if invested in Naya Pakistan Housing Scheme.

The government would also waive off the withholding taxes for the sector, and the federal government would discuss sales tax reduction with the provinces. Punjab and Khyber Pakhtunkhwa have already reduced the sales tax to two percent. Moreover, no capital gain tax would be charged when selling a family house. A PKR 30 billion subsidy has also been announced for the Naya Pakistan Housing Scheme.

ABAD chairman said that upgrade of the construction industry to a sector was long-awaited, and the builders looked forward to the establishment of the Construction Industry Development Board.

 
Get ilaan App
Get ilaan App

To Buy, Sell & Rent properties on your
finger tips.

Get ilaan App
Get ilaan App
premium property portal to buy,sell and rent

The best property website to buy and sell properties. ilaan.com is Pakistan’s most comprehensive property website, portal, finder focused on improving the visual property viewing experience of users to help them make better-informed decisions regarding capital investment in the real estate sector.

Grab a Coffee

Address
Head office26-A, J3 Block, Johar Town,
Lahore Pakistan
Timings Monday - Friday: 9 am - 6 pm
Saturday: 9 am - 2 pm
Sunday: We are closed.

Call Us

Phone

Get Updated

Subscribe

To get the latest news about ilaan.com subscribe our newsletter.

(required)
Subscribe
Get my Location