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Rs30b subsidy for Naya Pakistan Housing Scheme: PM

By Our Staff Correspondent
ISLAMABAD: 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, 90 percent fixed tax will be removed and he will have to pay only 10 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. Another report adds: In order to strike a balance between the “lockdown and regulation of economic activity”, Prime Minister Imran Khan on Friday announced a relief package for the construction sector that provides tax exemptions to the sector.
Speaking to reporters after a meeting of the National Command Centre, the PM said the government provided these exemptions to provide employment to the labourers so that they can be saved from “hunger and the coming difficult circumstances”. In line with the relief package, the government will not ask construction entities about their source of income for this year as well as approval of a fixed tax regime for the sector. The PM said: “This [move] will bring down the amount of tax to be paid. Also, if the investment is for the Naya Pakistan Housing Scheme, we will exempt 90% of the tax on it.”
He announced an Rs30bn subsidy for the Naya Pakistan Housing Scheme, saying that on the one hand, it will regulate economic activity and on the other, ensure houses for the poor were also built.
PM thanks Facebook COO for common cause during COVID-19
Prime Minister Imran Khan Friday thanked Facebook Chief Operating Officer (COO) Sheryl Sandberg for the support and working together for a common cause to improve the lives for millions and remarkable work her team was doing during COVID-19 pandemic.
In his response Prime Minister Imran Khan responded saying; “I am glad we are working for a common cause to improve lives for millions. Hope you are doing well, thank you Sheryl for your support and the remarkable work your team is doing.” This comes after Prime Minister Imran Khan’s vision of effective, accurate and timely information for the masses is being implemented in partnership with Facebook and Whatsapp  as measures during COVID-19 pandemic.
Pakistan government recently launched a Corona Helpline on WhatsApp. This new service, which is free-to-use, provides a central source of accurate, trustworthy and up-to-date information about coronavirus (COVID-19) for everyone in Pakistan. Prime Minister Imran Khan and Sheryl Sandberg had a one-one meeting earlier this year during the World Economic Forum at Davos where PM Khan was leading the Pakistani delegation.
Tayyaba Khanum  presents Rs5 m cheque to PM for corona relief fund
Renowned religious scholar Tayyaba Khanum Bukhari Friday called on Prime Minister Imran Khan and presented him a cheque Rs5 million for the Prime Minister’s Relief Fund for COVID-19.
She also expressed her determination to raise funds for the corona relief campaign. The PM appreciated the spirit of religious scholar Tayyaba Khanum Bukhari., a statement issued by the Prime Minister Media Office said.–APP

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