Islamabad: According to a news report, the Minister of State for Information and Broadcasting has stated that the revival of construction sector has improved economic activity in the country and raised investment of PKR one trillion.
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PM Imran Khan has announced a special package for the building industry, which includes exemption from the Federal Board of Revenue (FBR) and a reduction in fixed taxes. This package was created to counteract the COVID-19 lockdown’s harmful effects.
In addition, the government has authorised a total of Rs. 1,000 billion in building projects, including Rs. 491 billion in projects filed under the FBR’s exemption plan. Mr. Farrukh claims that a successful construction business will have a multiplier impact on more than 120 other industries. As a consequence, the country will see PKR 100 billion in economic activity and 700,000 new job possibilities.
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The details of the projects are as follows:
- PKR 373 billion worth of 24,404 investment projects were approved in Punjab. It is expected to generate PKR 1,900 billion in economic activity and create 325,000 job opportunities in the province.
- PKR 74 million projects were approved in Khyber Pakhtunkhwa (KP), which will produce PKR 371 billion economic activity and 64,000 jobs.
- PKR 175 billion projects were permitted for Islamabad, creating 104,000 jobs
- PKR 267 billion projects in Sindh will generate PKR 1,300 billion economic activity with 200,000 jobs
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