PM Khan’s construction package has successfully registered 2,125 projects worth Rs. 493 Billion

According to the data provided by the FBR, so far, 1,321 persons have registered themselves through the bureau’s online system for 2,125 projects.

1,321 persons have registered themselves through the bureau’s online system for 2,125 projects.

According to media reports, Prime Minister Imran Khan’s construction package has successfully registered 2,125 projects with a total investment of Rs. 493 billion. These facts were shared in a meeting conducted in this regard by the Federal Board of Revenue (FBR) on Friday.

During the meeting, the FBR’s Policy Wing briefly updated the FBR Chairman Dr. Muhammad Ashfaq Ahmed, about the advancements made in the Prime Minister’s relief package for the construction industry.

According to the data provided by the FBR, so far, 1,321 persons have registered themselves through the bureau’s online system for 2,125 projects. Out of the registered projects, 1,775 are new projects, whereas 350 are existing projects.

PM Imran Khan launched the construction package through the Tax Laws (Amendment) Ordinance, 2020, on the 19th of April 2020.

About Prime Minister Imran Khan’s Construction Package

PM Imran Khan launched the construction package through the Tax Laws (Amendment) Ordinance, 2020, on the 19th of April 2020. The salient features of the package include fixed tax for builders and developers and immunity from probes and concessions from withholding of taxes.

Under the package, the FBR aims to provide all the required facilitation and assistance to the beneficiaries of the package, which include:

  • establishment of dedicated web page
  • a dedicated email to address inquiries
  • an online step by step guide for the builders and developers
  • a comprehensive set of FAQs for potential buyers and investors

Speaking about the package, the FBR Chairman said:

The ease of doing business must be ensured for the registered projects under PM Imran Khan’s package for the construction sector. Regular updates on the progress must be communicated through the media weekly in this regard.

Sources state that the construction relief package was widely publicized through media campaigns. The campaign aimed to maximize the gains of the relief package.

Prime Minister Imran Khan said:

The covid-19 pandemic has caused a recession worldwide, leaving countries scrambling to keep the economic wheel turning. [Therefore] we have decided to keep the economy running through the housing and construction sector. This would also create job opportunities.

PM Imran Khan is now advising the construction industry and inv­estors to take advantage of this package to mitigate the economic impact of the Covid-19 outbreak.

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