Builders, developers: PM asks FBR chief to resolve issues

Prime Minister Imran Khan has directed chairman Federal Board of Revenue (FBR) to resolve the genuine problems of builders and developers, besides constituting a high-level committee to formulate recommendations for providing incentives to overseas Pakistanis for encouraging remittances through formal channels.

While chairing a meeting of his economic team on Thursday, the Prime Minister directed the FBR chairman to make sure that genuine problems of builders and developers are addressed on priority basis as around 40 industries are associated with the sector and its development is essential for employment creation. The Prime Minister stated that government's priority is to remove bottlenecks impeding growth of construction sector.

The Prime Minister constituted a committee comprising Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh, Special Assistant to Prime Minister on Overseas Pakistanis Zulfiqar Bukhari, former finance minister Shaukat Tareen, governor State Bank of Pakistan (SBP) Dr Reza Baqir and secretary finance to formulate recommendations for providing incentives to overseas Pakistanis and banks for increasing growth in remittances after discussing various suggestions.

The Prime Minister stated that besides incentives to overseas Pakistanis, the government also wants to provide incentives to banks to ensure that the process of sending remittances back home by overseas Pakistanis is moved ahead in an organized manger.

Earlier, the meeting also discussed incentives to be provided to the overseas Pakistanis with Prime Minister stated that overseas Pakistanis are an asset of the country.

The government is trying to facilitate them in terms of sending back home their hard-earned money through formal and legitimate channels, he said and added, "We want to provide incentives to overseas Pakistanis to acknowledge and encourage them for their contribution to economic growth and development."

Former finance minister Shaukat Tareen and Special Assistant to Prime Minister Zulifkar Bukhari presented various suggestions to the meeting.

Executive Director National Information Technology Board (NITB) Shababat Ali gave a briefing to the meeting about progress on setting up e-payment gateway for electronic payments while chairman Naya Pakistan Housing Authority apprised the meeting of the measures so far taken for increasing construction activities and informed the meeting about the problems of contractors.

The chairman Naya Pakistan Housing Authority also informed the meeting about the progress for utilizing the unused land of various ministries for construction of houses for low-income groups. The Prime Minister directed the Naya Pakistan Housing Authority to speed up the process.

The meeting discussed matters pertaining to increase in economic activities as well as steps to be taken to promote the construction sector for creating employment opportunities.

Those who attended the meeting included Dr Abdul Hafeez Shaikh, Minister for Economic Affairs Hammad Azhar, Advisor on Commerce Abdul Razak Dawood, Zulfi Bukhari, Special Assistant on Information and Broadcasting Firdous Ashiq Awan, Nadeem Babar, Shaukat Tareen, Chairman BOI Syed Zubair Gilani, Chairman Federal Board of Revenue (FBR) Shabbar Zaidi, chairman Naya Pakistan Housing Authority and others.