Coronavirus lockdown: PM Khan announces grand incentives for construction sector

ISLAMABAD: Prime Minister Imran Khan said that the government has decided to give the status of industry to construction sector.

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Announcing special package for construction industry on Friday, he said that the sector plays an important part in development of a country.

The prime minister said that those investing in the construction sector will not be asked about their source of income. “Withholding tax on all construction related material has been waived off except on cement and iron,” he explained.

Prime Minister Imran said that capital gain tax on property will not be charged. “The opening of construction industry is necessary to keep the economy running,” he said.

“The sector will be opened from April 14,” the PM remarked.

“The government is also devising strategy to lower sales tax in coordination with the provinces.”

He said that capital gain tax will not be applicable on those selling properties. “We are also establishing Construction Industry Development Board to promote the sector.”

He said that the government will pay Rs30 billion subsidy for Naya Housing Scheme. Imran maintained the government’s concern to open up the construction sector is to facilitate the daily wagers.

He said the construction industry is the second largest sector in the country which provides employment to the people. He maintained the government wants to create a balance between maintaining a lockdown and keeping the construction sector running to save people from hunger and poverty.

Regarding coronavirus situation in Pakistan, Imran said, “It is not wise to assume that people in Pakistan have some kind of immunity against the coronavirus and they will not suffer huge loss of human lives.”

He said there is a definite threat to the country from the virus and people should take all necessary precautions. He said the coronavirus has become a challenge for the whole world. Imran Khan pointed out the government cannot “lock up 220 million people” through a harsh curfew to control the spread of Covid-19.

The PM said that so far, 10 million people have applied for support through corona relief fund.

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