FBR online system: 40 construction projects registered, 4,812 in process, PM told

ISLAMABAD: The Federal Board of Revenue (FBR) informed Prime Minister Imran Khan Thursday that online registration system launched to facilitate builders and developers had been useful as 40 construction projects had been registered in a short time and 4,812 were in the process.

This was stated by the FBR Chairman Muhammad Javed Ghani, while updating weekly meeting of the National Coordination Committee (NCC) on Housing, Construction and Development presided over by the prime minister.

The prime minister was given a briefing on the facilities and steps taken by the FBR to facilitate the construction sector, new construction projects initiated by the Balochistan government, and on auction of plots in Blue Area in the federal capital, and other related issues.

The FBR chairman informed the prime minister that the online registration system had been introduced to facilitate developers and builders, and facilitates the taxpayers.

He added that the online registration system would facilitate the taxpayers to a great extent and a media campaign was started to create awareness, and a webinar was also being planned.

The prime minister has directed the FBR to arrange weekly webinar to create awareness about the facilities provided by the FBR for the construction sector.

He also directed that focus should be on automation, digitalisation and on making the process easier in all the phases of the construction sector.

The prime minister on construction activities in Balochistan was informed that issuance of No Objection Certificate (NOC) period had been reduced to 10 days, and tax rates for contractors and property developers had been reduced considerably (Rs60 per sq yard for residential scheme and for commercial schemes to Rs50 per sq yard) apart from decrease in the CVT, and transfer tax etc.

The chief secretary informed the meeting that at the moment around 89 construction projects were under consideration at 14,000 acre land at Gwadar, and the NOC had already been issued for 104 projects.

Copyright Business Recorder, 2020