{"id":73095,"date":"2021-01-01T12:21:50","date_gmt":"2021-01-01T07:21:50","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=73095"},"modified":"2021-01-01T12:21:57","modified_gmt":"2021-01-01T07:21:57","slug":"pm-announces-new-years-gift-for-construction","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pm-announces-new-years-gift-for-construction.html","title":{"rendered":"PM announces \u2018New Year\u2019s gift\u2019 for construction industry"},"content":{"rendered":"\n<p>Islamabad: Prime Minister (PM) Imran Khan on Thursday announced a much-anticipated extension in the tax amnesty scheme for the construction sector; saying that it was the government\u2019s \u2018New Year\u2019s gift\u2019 for the construction industry, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/construction-amnesty-scheme-fbr-stats.html\" target=\"_blank\" rel=\"noreferrer noopener\">Construction Amnesty Scheme to expire today; FBR shares stats<\/a><\/p>\n\n\n\n<p>According to reports, the International Monetary Fund (IMF) has agreed to this extension in view of the second wave of the coronavirus pandemic.<\/p>\n\n\n\n<p>The PM in his televised address to the nation stated that as per the demand of the people associated with the construction industry, the government had provided its approval to the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Fixed Tax Regime will now be available till December 31, 2021<\/li><li>The exemption given under Section-111 that prevents probe into the income sources investment has been extended till June 30, 2021<\/li><li>The deadline for completion of the registered project till September 30, 2023, has been extended by another year<\/li><li>Exemption for disclosing investment for buyers has been extended till March 31, 2023<\/li><\/ul>\n\n\n\n<p>The PM also said that the construction industry<a href=\"https:\/\/www.zameen.com\/news\/extension-likely-in-construction-industry-relief-package.html\" target=\"_blank\" rel=\"noreferrer noopener\"> relief package<\/a> was announced during the peak of the global pandemic and it took time for people to properly respond to said amnesty scheme.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/dcs-announce-brick-rates-move-boost-construction-industry.html\" target=\"_blank\" rel=\"noreferrer noopener\">DCs to announce brick rates in a move to boost construction industry<\/a><\/p>\n\n\n\n<p>The government expect that the projects launched under the project will mobilise economic activities of PKR 1,500 billion in Punjab and create employment opportunities for 250,000 people. Similarly, economic activities have also spiked in other provinces.<\/p>\n\n\n\n<p>Moreover, the PM stated that the Capital Development Authority (CDA), the Lahore Development Authority (LDA) and the Khyber Pakhtunkhwa government had done a great job in automating their procedures and granting approvals at a faster rate. PM Khan pledged to further remove the issues faced by the construction industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Prime Minister (PM) Imran Khan on Thursday announced a much-anticipated extension in the tax amnesty scheme for the construction sector; saying that it was the government\u2019s \u2018New Year\u2019s gift\u2019 for the construction industry, according to news sources. Read: Construction Amnesty Scheme to expire today; FBR shares stats According to reports, the International Monetary Fund (IMF) has agreed to this extension in view of the second wave of the coronavirus pandemic. The PM in his televised address to the nation stated that as per the demand of the people associated with the construction industry, the government had provided its approval to the following: Fixed Tax Regime will now be available till December 31, 2021 The exemption given under Section-111 that prevents probe into the income sources investment has been extended till June 30, 2021 The deadline for completion of the registered project till September 30, 2023, has been extended by another year Exemption for disclosing investment for buyers has been extended till March 31, 2023 The PM also said that the construction industry relief package was announced during the peak of the global pandemic and it took time for people to properly respond to said amnesty scheme. Read: DCs to&hellip;<\/p>\n","protected":false},"author":75,"featured_media":66383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013,15016,15017],"tags":[34486,44798,15023,6038],"persona":[],"class_list":{"0":"post-73095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"category-new-developments","9":"category-notices-announcements","10":"tag-construction-industry-relief-package","11":"tag-construction-package-extension","12":"tag-slider","13":"tag-tax-amnesty-scheme","14":"cat-15013-id","15":"cat-15016-id","16":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PM announces \u2018New Year\u2019s gift\u2019 for construction industry - Zameen News<\/title>\n<meta name=\"description\" content=\"Prime Minister (PM) Imran Khan on Thursday announced a much-anticipated extension in the tax amnesty scheme for the construction sector\" \/>\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\/pm-announces-new-years-gift-for-construction.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM announces \u2018New Year\u2019s gift\u2019 for construction industry - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Prime Minister (PM) Imran Khan on Thursday announced a much-anticipated extension in the tax amnesty scheme for the construction sector\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pm-announces-new-years-gift-for-construction.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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