Naya Pakistan Housing Scheme: Investors have to pay only 10% of tax

Dr. Firdous Ashiq Awan Special Assistant to the Prime Minister Imran Khan on Media and Broadcasting said that the packages announced by the PM will bring a positive impact on the lives of people and will minimize the economic meltdown amidst coronavirus outbreak.

Dr.  Awan further said that the package announced by the premiere for the construction sector which has also been made an industry will devolve and positively impact all the related industries as well.

Awan added that the announcement of a comprehensive package for the construction industry is a sigh of relief and ray of hope and in these tough times for businessmen, industrialists and working class as new employment opportunities will be created through the initiative.

She further said that the request from the industrialists to impose fixed tax has also been accepted by the government.

Dr. Awan said that all construction related industries have also been exempted from withholding tax. Although the suspension of withholding tax though does not apply to cement industries and steel.

SAPM said that those willing to invest in “Naya Pakistan Housing Scheme” will now have to pay only 10 percent tax.