Rs 493b invested under PM’s Package for construction

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Islamabad

The Federal Board of Revenue (FBR) Saturday informed that Rs 493 billion were the total declared investment made through the registered projects under the Prime Minister’s Package for construction sector.

The Prime Minister’s Construction Package was introduced through Tax Laws (Amendment) Ordinance, 2020 on April 19,2020, said a press release issued by FBR here.

Chairing a meeting held to review progress of the Prime Minister’s relief package to the construction industry, FBR Chairman Dr. Muhammad Ashfaq Ahmed said that regular update on the progress be communicated through media on weekly basis.

The FBR Chairman directed that Ease of Doing Business (EODB) must be ensured to the registered projects under the PM’s Package for construction sector.

The FBR’s Policy Wing gave a detailed briefing about the progress made under the Relief Package.

Member IR Policy assisted by Chief IR Policy informed the Chairman that so far 1321 persons have registered themselves through the online system of FBR in 2125 projects.

Out of these registered projects, 1775 are new projects whereas 350 are existing projects.
The salient features of the package include fixed tax for builders and developers, immunity from probe and concessions from withholding of taxes.

The FBR has provided all the required facilitation to the beneficiaries of the package which include establishment of a dedicated web page, a dedicated email to address inquiries and an online step by step guide for the builders and developers.

Besides, a comprehensive set of FAQs for potential buyers and investors was developed which is available on FBR website.—APP

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