Islamabad: Prime Minister (PM) Imran Khan has announced his decision to exempt the Naya Pakistan Housing Programme (NPHP) from tax payments, according to a news source. Special Assistant to the PM on Information Firdous Ashiq Awan made this announcement on Thursday; stating that the government would waive sales and fixed taxes on the NPHP construction work.
The PM made this decision in a meeting held to review the progress of work on the NPHP, and instructed the Federal Board of Revenue (FBR) to remove these taxes from the project. He stated that the development of the country’s housing sector was a priority for his government; since it wanted to provide affordable housing options for low-income families.
Further, he stated that the development of the housing sector would boost 40 related industries, and also create numerous job opportunities for skilled labour and the youth. In addition, he directed the provincial governments to lower tax rates implemented on the housing and construction sectors, and to draft comprehensive policies to accommodate the population and provide them with the best civic facilities possible.
PM Khan also appreciated the measures being taken to digitise the construction-approval process, and reduce the number of No-Objection Certificates (NOCs) and permits required. This will also increase the ease of doing business in Pakistan.