ISLAMABAD: Federal Minister for Broadcasting and Information Shibli Faraz on Sunday said that they had established an NCOC-type national construction committee to facilitate the housing sector in the country, ARY NEWS reported.
“Facilitating the lower segment of the society remains the foremost priority of the incumbent government,” he said while addressing a presser as the government announced a special relief package for the construction industry.
40 other industries are connected with the construction industry and it will also provide job opportunities for labour class, Shibli Faraz said.
He said that they had directed banks to provide five percent funds for home financing while government policy would also help people in saving Rs 300,000 on the purchase of five marla residential land.
The minister further announced that builders and developers will be able to avail from the government relief package till 31 December 2020. “State Bank of Pakistan and FBR will cooperate with them in implementing the policy,” he said.
Speaking on the occasion, Chairman Pakistan Housing Scheme, Lieutenant General (retd) Anwar Ali Haider said that they had resolve tax issues on the relief policy announced by the incumbent government in April this year.
“Capital gain tax is being lifted for anyone constructing his residence,” he said. We have also lowered the fixed tax rate for loans acquired for the construction industry, the chairman said.
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He further announced that they had set a target of 100,000 homes for low-income people in the country. “Government policy will bring the price of low-cost housing structure to Rs 1,500,000 from 2,000,000.”
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