Prime Minister Imran Khan announced the good news in the field of construction and development that the fixed tax regime, which was introduced earlier last year, has been extended to December 31, 2021.
PM share " A good news about (Construction sector) for the new year. The fixed tax regime has extended to December 31, 2021.” This was spoken by the PM during his national speech, adding that this extension has been endowed with high business demand and potential in the construction sector.
According to the report, the PM announced so far 18.6 billion projects have been registered with the FBR with the incentives provided to the construction sector, has registered in federal tax entry. The cost of the project in the registration process is Rs. 161 billion. He also said that the construction project will create huge economic uplifting activities equivalent to Rs. It's 150 billion in Punjab alone, and this will generate 25,000 jobs.
He also added that the government, along with commercial banks, will give out huge loans to build small houses at affordable prices for people of modest backgrounds. He said the government has decided to provide a subsidy from Rs. 30 billion for low-cost housing.
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