Naya Pakistan Housing Project

ISLAMABAD: The government has announced a special package for the construction sector which includes an amnesty plan, tax-free exceptions and a grant of Rs30 billion for the Pakistan Naya Housing Project, according to the Pakistan Economic Survey (PES) 2019-20.

The movement also expects other industries associated with the construction sector and will generate employment in the country.

Additionally, a stimulus package was also introduced to stimulate the country’s successful economy Covid-19.

According to the package, export-oriented industries would receive a tax refund worth Rs 100 billion and their interest payments will be delayed.

The government is giving a series of subsidies and incentives to the industrial sector, the survey noted.

These include subsidies to the industry for electricity and gas and an export development package.

Additionally, the Economic Coordination Committee (ECC) has approved a package of Rs 50.7 billion to give indirect cash flow support to the small and medium enterprises (SMEs) through prepaid electricity bills for the period May-July 2020.

This package will benefit about 3.5 million small businesses.