Naya Pakistan Housing Scheme: ABAD urges Centre to extend date of availing incentive package

KARACHI: Association of Builders and Developers of Pakistan (ABAD) has demanded the federal government to extend date of availing incentive package of Naya Pakistan Housing Scheme till next year (December 2021).

The demand was raised by the new chairman Fayyaz Ilyas while addressing on a seminar ‘PM’s housing package’ held at ABAD House here on Wednesday.

He said that the date of registration for incentive package of Naya Pakistan Housing Scheme should be extended up to December 31, 2021 besides the time period for the completion of housing projects under this scheme should also be increased.

He said that ABAD was supporting the government in providing low cost houses to people from lower strata of Pakistan and added that development of construction industry was the guarantee of country’s economic progress.

Furthermore, he said that the relief package for the construction industry was a long standing demand of ABAD and praised Prime Minister Imran Khan to take right step for economic growth of the country. He said that the government would provide land and infrastructural facilities to builders and developers to ensure the success of this scheme.

Meanwhile, chief commissioner MTO Abdul Hameed Memon said that builders and developers had been given three main incentives - no questions would be asked about source of income to those builders and developers who would opt incentive package, rate of tax would be four times less than a routine tax rate and people who would purchase home in this scheme would not be questioned about the source of income.

He urged the builders and developers to register themselves in Naya Pakistan Housing Scheme in order to get maximum benefits of the Prime Minister’s package and added that FBR was pondering to appoint a focal person for ABAD to resolve tax related issues of the members. A large number of ABAD members and FBR officials attended the seminar.

Copyright Business Recorder, 2020