LAHORE: Business community while hailing extension in construction sector amnesty plan said it will not only boost the confidence of investors but also further stimulate economic activities in the country.
Founder Chairman Pak-US Business Council and Chairman United Business Group (UBG) veteran trade leader Iftikhar Ali Malik said its new year gift of Prime Minister Imran Khan to the nation which is a good step in right direction at right time that will yield better impact on the economy besides accelerating activities in construction sector across the country.
He said extension in the fixed tax regime and non-disclosure of source will attract more investment in this sector and play a key role to offset the negative impact of the covid-19 on the national economy. He said this facility could not be fully availed in a real manner due to covid.
He said investors have so far injected Rs 86 billion in construction projects while another investment of Rs 116 is in pipeline which on the hand is also generating huge job opportunities. He predicted over rupees 2000 investment in this sector because this historic and unprecedented package promise a number of incentives that include subsidies also for low cost housing for salaried people who could not afford houses previously.
Iftikhar Ali Malik said it’s the first time that all commercial banks vowed to allocate Rs378 billion for construction activities till December 31 to fully exploit the potential of this sector. He said thousands of construction projects have been launched in Punjab, Khyber Pakhtunkhwa, Karachi and Balouchistan without disclosing the source of income.
He said that it’s another feather in the cap of Prime Minister Imran Khan that the first 100,000 houses built under this scheme will be given a grant of Rs300,000 each.
He demanded that more similar packages be offered to investors for the establishment of new Industry. He hoped hidden trillions of rupees will be pumped in the mainstream of the national economy.
