National level committee formed to promote the construction Sector: Shibli Faraz

Minister for Information and Broadcasting, Senator Shibli Faraz has said that a committee has been formed at the national level for the promotion of the construction sector headed by Lt. Gen. Anwar Ali Haider.

During a press conference in Islamabad with Lt. Gen. Anwar Ali Haider, chairman of the New Pakistan Housing Scheme, Shibli Faraz said that just as the National Command and Operations Center (NCOC) was set up to deal with the coronavirus. A committee has been formed to resolve all the issues of the construction sector.

He said the provision of affordable housing was a major problem for the country as banks generally did not lend much to the construction industry.

Senator Shibli Faraz said that the construction industry can run the economy of the entire country as more than 40 industries are connected with the construction industry.

The Federal Minister said that a very important package has been given to lift the construction and industry as the government is very serious about the success of this project.

Shibli Faraz urged builders and people associated with the construction industry to take full advantage of the government package.

He clarified that sanctions of international organizations would be imposed after December 31.

He said that the government has an extraordinary interest in the Naya Pakistan Housing Scheme and that is why the buyer of a 5 marla house will get a discount of Rs. 3 lakh.

He said that the government has allocated a subsidy of Rs 30 billion.

In addition, Lt. Gen. Anwar Ali Haider of Naya Pakistan Housing Scheme said that the government has abolished 90% tax under section 111 income tax ordinance, those with unclear income have been exempted till December 31, 2020. Provincial taxes and transfer taxes were reduced, he said.

Earlier, Prime Minister Imran Khan has said that the construction sector in Pakistan has faced many problems and to address these problems, a National Coordinating Committee has been formed which includes consultation with all the provinces.

Speaking after the meeting of the National Coordinating Committee on Construction and Development, Prime Minister Imran Khan said that there is an economic crisis in the world due to coronavirus and the countries are adopting different strategies to deal with and we decided to activate our economic activities through the construction sector.

Prime Minister Imran Khan said that he would do it himself under the supervision of the National Coordinating Committee and it would meet every week.

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