Thursday September 23, 2021

500 construction projects not included in amnesty scheme

500 construction projects not included in amnesty scheme

KARACHI: The 500 construction projects worth Rs1,000 billion were left from inclusion in an amnesty scheme announced for the construction sector by the government.

Chairman of Association of Builders and Developers (ABAD) Fayez Ilyas said that there is an increase in investment from Rs1,000 billion to Rs2,000 billion if the relief package for the construction sector is extended for further six months.

He demanded the government give a six-month extension in the amnesty scheme announced for the construction industry.

Fayez Ilyas quoted State Minister for Information Farrukh Habib as saying that investment of Rs1,000 billion had been made in the construction sector after this amnesty scheme.

The ABAD chairman said that Prime Minister Imran Khan had announced relief package for construction industry for development through this industry and under this package exemption not to reveal source of income was given to investors till June 30, 2021 who would make investment in this sector while amnesty scheme for the facility of fixed tax regime had been announced till December 31, 2021.

He demanded extension in both these amnesty schemes. However, he said that builders and developers, especially from Sindh, were unable to benefit from these schemes due to the fourth wave of coronavirus and obstacles in getting NOCs.