Construction industry: ABAD hails PM’s decision to extend date of package

KARACHI: Association of Builders and Developers of Pakistan (ABAD) has hailed Prime Minister Imran Khan’s decision to extend the date of availing incentives package for construction industry by June 30, 2021.

According to details, the ABAD said that the announcement of the Prime Minister for extension in construction incentive package up to June 30, 2021, extension of fixed tax regime up to December 31, 2021, extension in project completion up to September 30, 2024 and extension for ‘no question ask’ about source of income up to March, 2023, would be beneficial for the national economy.

The ABAD had earlier requested the Prime Minister to extend the date of construction incentive package because it was not possible for builders and developers to complete projects due to the spread of pandemic second wave.

Keeping the ABAD request in view, the Prime Minister has given extension in availing construction incentive package, which will be beneficial for economic growth. ABAD hoped that the Sindh government would also implement digitalisation of land records and adopt automation of building plan approvals.

Copyright Business Recorder, 2021