Pakistan Possesses a Struggling Economy that is pushed back due to the ongoing Coronapocalypse. PM Imran Khan Announces Historic Relief Package for Construction Sector Amid COVID-19.
It is necessary to maintain a ‘Balance’ between Lockdown and Economic Activity, Prime Minister Imran Khan said. So, PM Imran Khan Announced a reprieving package for the Construction Sector amid coronavirus to revive the economy.
PM Imran Khan Announces Historic Relief Package for Construction Sector Amid COVID-19
A developing economy must sustain a ‘balance’ between lockdown and economic activity, Prime Minister Imran Khan said Friday as he announced a relief package for the construction sector. The government is intended to relax the construction sector by giving it a free hand to invest and generate revenue.
The Prime Minister was speaking to media after chairing a meeting at the National Command Centre office and The foremost proclamation is a set of spurs for the construction sector, saying that
“Our main objective is to employ the labourer so that they can be saved from “hunger and the coming difficult circumstances. Persons or entities who invested in the construction sector this year will not be asked about their source of income. The government has decided to agree to the demand of the construction sector and has introduced the fixed tax. This [move] will bring down the amount of tax to be paid. Also, if the investment is for the Naya Pakistan Housing Scheme, we will exempt 90% of the tax on it. Withholding tax on materials and services had been abolished in the informal sector. Tax will be collected only on steel and cement, mainly because these are the formal sectors.”
PM Imran Khan is Envisioned to give a Jerk to the Seizing Economy
“The government will not collect any capital gains tax from “any family that wants to sell its house”. Rs30bn subsidy for the Naya Pakistan Housing Scheme. The government ensures that the construction sector was given the industry status and announced the formation of The Construction Industry Development Board. An institution will be formed, for the first time, to promote the construction industry in Pakistan.”
PM Imran Khan spoke about the Coronavirus Relief Fund
“We will start giving out cheques in the next three to four days. This was an unprecedented crisis and that every nation was trying to battle the virus in its way. I only have reservations against people who use calamities to hide their corruption. This will not happen.”
Pakistan… Coronavirus.. and Increasing Hunger
PM Khan voiced his grief in the words,
“In Pakistan, on the one hand, you have the coronavirus and on the other hand, you have to deal with hunger. A lockdown imposed only in Defence or Gulberg will not be successful. The success of a lockdown will depend on whether the poor will get food at their houses or not.”
May Allah succeed in Pakistan to hold the collapsing economy and safely get rid of the deadly virus.