Prime Minister Imran Khan announced a “historic” stimulus package for the construction sector.
Unveiling the package for the construction sector, he said those who will invest in the sector will not be quizzed about their source of income with fixed tax to be levied.
If a person invests in any construction projects under the government’s flagship housing scheme, he will have to pay only ten per cent tax, Prime Minister Khan announced. He said sales tax is also being cut in coordination with the provinces. There will be no capital gains tax for a family that sells its house.
The premier said a Construction Industry Development Board is also being set up to promote the construction industry.
Prime Minister reiterated the government can’t confine 220 million people to their homes through a complete lockdown to arrest the spread of the novel coronavirus (COVID-19).
Stressing the need for striking a balance between the fight against the coronavirus pandemic and providing livelihoods to daily wagers, the prime minister said how can they ask the people to stay home even if they are hungry. He said meetings take place on a daily basis to take stock of the coronavirus crisis.
Prime Minister Khan said the government wants to push ahead with its fight against the pandemic without causing any hardships to the poor. The government is bringing incentives for the construction sector in order for all industries linked to it to resume functioning, thereby providing means of income to daily wage earners.
“We need to use rationale and figure out ways and means to stop both the corona spread and hunger,” he said, citing India’s example of imposing a 21-day lockdown without, what he said, necessary planning, due to which Indian Prime Minister Narendra Modi has had to apologise to the people.