PM’s construction package registered 2,125 projects worth Rs493 billion

ISLAMABAD: Prime minister’s construction package registered 2,125 projects with a total investment of Rs493 billion.

The Federal Board of Revenue’s Policy Wing Friday gave a detailed briefing to FBR Chairman Dr Muhammad Ashfaq Ahmed about the progress made on the prime minister’s relief package for the construction industry.

The FBR chairman was informed that so far 1,321 persons had registered themselves through Bureau’s online system for 2,125 projects. Out of the registered projects, 1,775 were new projects, whereas 350 were existing projects.

PM’s construction package was introduced through Tax Laws (Amendment) Ordinance, 2020 on April 19, 2020. The salient features of the package include fixed tax for builders and developers, immunity from probe and concessions from withholding of taxes. The FBR provided all the required facilitation to the beneficiaries of the package, which include establishment of dedicated web page, a dedicated email to address inquiries and an online step by step guidance for the builders and developers. Besides, a comprehensive set of FAQs for potential buyers and investors was developed, which is available on the FBR website.

Moreover, wide publicity through media campaigns was also done to maximise the gains of the relief package. The FBR chairman said that ease of doing business must be ensured to the registered projects under the PM’s package for construction sector. He said that regular updates on the progress be communicated through the media on weekly basis.