ISLAMABAD (HRNW News) – Prime Minister Imran Khan on Friday said that the source of income of those investing in the construction sectors will not be asked.
Announcing the package for the construction industry in Islamabad on Friday, he said that the Pakistan Tehreek-e-Insaf (PTI) government is giving status of industry to construction sector.
The prime minister said that the government is working to reduce the sales tax, adding that those selling their home will not be charged capital gains tax.
PM Imran Khan also announced Rs30 billion subsidy for the Naya Pakistan Hosuing Scheme.
PM Imran said fixed tax will be introduced in construction sector now.
He said if the investor invests in construction projects under Naya Pakistan Housing Authority, ninety percent fixed tax will be removed and he will have to pay only ten percent tax, adding that withholding tax on construction will be lifted from all sectors, except steel and cement.
The premier said sales tax is also being brought down in coordination with the provinces. The Prime Minister said there will be no capital gains tax for a family that sells its house.
He said a Construction Industry Development Board is also being set up to promote the construction industry.
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