Karachi: The Association of Builders and Developers (ABAD) on Wednesday requested the federal government to extend the deadline for availing the incentive package of the Naya Pakistan Housing Programme (NPHP) till next year (December 2021), according to a news report published on October 8.
The association members made the request in a seminar titled ‘PM’s Housing Package’ held at ABAD House. ABAD Chairman Fayyaz Ilyas stated that the registration for the incentive package announced under the NPHP initiative should be extended till the next year and that the time given for the completion of NPHP housing projects should also be extended.
Meanwhile, Medium Taxpayers Office (MTO) Chief Commissioner Abdul Hameed Memon urged the builders and developers to get themselves registered with the government and avail all the benefits of the package. He also revealed that the people will be required to complete their projects by September 2020 as per the incentive’s specifications.
Until the scheme ends, no builder/developer would need to reveal their income source, the tax rate levied will be reduced by 4%, and property buyers will not have to disclose their income source.