A persistent hike in steel and cement prices has continued to nullify the Prime Minister Imran Khan's Construction Package under a fixed tax regime for the construction industry. For the week ended 31st Dec 2020, Cement prices inched up by +2% on month-on-month basis to PKR 587/bag. Prices in North region saw an increase of +3%m/m to PKR 574/bag whereas in South prices remained stagnant PKR...
Prime Minister Imran Khan announced that the Govt of Pakistan has extended the fixed tax regime to Dec 31, 2021. He said this had been a big demand from the construction industry which was why they were given an "extra year". The Prime Minister said, "We believe that the economic activity that this will generate only in Punjab will be equivalent to Rs1,500bn and will result in 250,000 jobs. Similar...
The govt of Pakistan is considering giving 3-6 months extension in Prime Minister Imran Khan’s tax amnesty scheme for the construction sector. The scheme is going to expire on tomorrow. According to State Bank of Pakistan, on the back of the government housing package, strong construction momentum drove up cement sales to record levels in Q1 FY21. The deliberations to extend the scheme have...
The Prime Minister’s incentive scheme for builders & developers of Pakistan is now picking-up showing signs of success and a great amount of interest by the construction industry. According to the released information by the Federal Board of Revenue, till 19th October 2020, a total of 127 projects have been registered with a total projected cost of Rs. 63 billion. In addition, a total of 108...
Builders and developers can save around six times on taxes if they register under the Prime Minister Imran Khan's construction package as it has a fixed regime. “This saving on tax will add up to whatever profit you make,” explained the FBR’s Abdul Hafeez while addressing them at a seminar on the ‘PM’s Package on Naya Pakistan Housing Scheme’ at the Association of Builders and Developers...
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