Fix tax regime extended for another year
PM Khan says that the construction industry was waiting for such a development, adding that an extension to the fixed tax regime was a ‘big demand’ from the industry
A.M.Bhatti
ISLAMABAD: Prime Minister Imran Khan on Thursday announced that the fixed tax regime for the construction sector has been extended to December 31, 2021.
PM Khan said that the construction industry was waiting for such a development, adding that an extension to the fixed tax regime was a ‘big demand’ from the industry and now it will have an extra year at its disposal.
The PM was speaking during a weekly review meeting of high-priority economic sectors along with Special Assistant to the Prime Minister on National Security Division and Strategic Policy Planning Moeed Yusuf.
Chief secretaries of all the four provinces also partook in the meeting via video link.
Speaking about the incentives that the government provided to the construction industry earlier this year, PM Imran Khan said that the industry showed considerable progress as projects worth Rs186 billion were registered with the Federal Board of Revenue (FBR).
He added that it was because of the progress of the construction industry that Pakistan was steered away from economic crisis amid the pandemic.
“There are more construction projects worth Rs116 billion which have been registered on FBR’s portal and are yet to be drafted,” the PM said. “Meanwhile, the approval process of projects worth 136 billion are also currently underway.”
Related News
Azerbaijan Minister of Ecology calls on PM Shehbaz
ISLAMABAD, MAY 10 /DNA/ – The Minister of Ecology & Natural Resources of Azerbaijan, H.E.Read More
Police stopped IJT students ‘Gaza March’ advance towards US embassy
ISLAMABAD, MAY 10: Islamabad Police Friday stopped the advance of the Islamic Jamiat students’ GazaRead More
Comments are Closed