{"id":57508,"date":"2019-11-12T15:24:40","date_gmt":"2019-11-12T10:24:40","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=57508"},"modified":"2020-03-16T16:38:26","modified_gmt":"2020-03-16T11:38:26","slug":"special-tax-incentives-planned-construction-sector-hafeez-shaikh","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/special-tax-incentives-planned-construction-sector-hafeez-shaikh.html","title":{"rendered":"Special tax incentives planned for construction sector: Hafeez Shaikh"},"content":{"rendered":"<p>Islamabad: Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh on Monday announced the government\u2019s decision to offer special tax incentives to the construction sector, according to news source. He expressed his views on the matter during a press briefing held in the aftermath of the IMF mission\u2019s visit to Pakistan during which the agency officials had lauded the economic reforms initiated by the government.<\/p>\n<p>The adviser revealed that the government had decided to allocate PKR 300 billion to facilitate the provision of subsidised interest rates for the Naya Pakistan Housing Programme (NPHP) project. Further, this initiative will facilitate the construction of housing units with an estimated worth of PKR 300 billion and other ancillary sectors that are associated with this low-cost housing scheme.<\/p>\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/real-estate-incentives-needed-to-attract-overseas-investment-advisor-hafeez-shaikh.html\" target=\"_blank\" rel=\"noopener noreferrer\">Real estate incentives needed to attract overseas investment: Advisor Hafeez Shaikh<\/a><\/p>\n<p>The adviser also said that the IMF mission had endorsed government\u2019s performance in achievement of key targets with big margins and recommended disbursement of USD 450 million. He associated this development with economic revival. He said that the government planned to provide an economic stimulus to selective sectors \u2013 including the construction industry \u2013 and pledged to surpass the 2.4% growth rate target set for the current fiscal year.<\/p>\n<p>Earlier, Prime Minister (PM) Imran Khan had chaired a high-level meeting on the rehabilitation and development of the<a href=\"https:\/\/www.zameen.com\/news\/pm-approves-industry-status-for-construction-sector.html\" target=\"_blank\" rel=\"noopener noreferrer\"> construction industry<\/a>. He stated that the construction sector was vital to the economic growth of the nation. The PM also said that the growth of housing and construction sectors was his government\u2019s top priority.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/govt-imf-agree-slash-fbrs-tax-collection-target.html\" target=\"_blank\" rel=\"noopener noreferrer\">Govt, IMF agree to slash FBR&#8217;s tax collection target<\/a><\/p>\n<p>Moreover, the PM constituted a committee, under the leadership of Naya Pakistan Housing Programme (NPHP)\u2019s chief executive, with directions to submit recommendations regarding taxes, bank loans and other problems faced by the construction industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh on Monday announced the government\u2019s decision to offer special tax incentives to the construction sector, according to news source. He expressed his views on the matter during a press briefing held in the aftermath of the IMF mission\u2019s visit to Pakistan during which the agency officials had lauded the economic reforms initiated by the government. The adviser revealed that the government had decided to allocate PKR 300 billion to facilitate the provision of subsidised interest rates for the Naya Pakistan Housing Programme (NPHP) project. Further, this initiative will facilitate the construction of housing units with an estimated worth of PKR 300 billion and other ancillary sectors that are associated with this low-cost housing scheme. Read: Real estate incentives needed to attract overseas investment: Advisor Hafeez Shaikh The adviser also said that the IMF mission had endorsed government\u2019s performance in achievement of key targets with big margins and recommended disbursement of USD 450 million. He associated this development with economic revival. He said that the government planned to provide an economic stimulus to selective sectors \u2013 including the construction industry \u2013 and pledged to surpass the&hellip;<\/p>\n","protected":false},"author":75,"featured_media":52104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15013],"tags":[13922],"persona":[],"class_list":{"0":"post-57508","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-construction","9":"tag-details-on-special-tax-incentives-planned-for-construction-sector-hafeez-shaikh","10":"cat-15012-id","11":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Special tax incentives planned for construction sector: Hafeez Shaikh - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh on Monday announced the government\u2019s decision to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/special-tax-incentives-planned-construction-sector-hafeez-shaikh.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Special tax incentives planned for construction sector: Hafeez Shaikh - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh on Monday announced the government\u2019s decision to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/special-tax-incentives-planned-construction-sector-hafeez-shaikh.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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