Govt striking a balance between lockdown, hunger & economy: PM Imran Khan
ISLAMABAD (92 News) – Prime Minister Imran Khan has said that the government is striking a balance between lockdown, hunger and economy.
In a tweet on Saturday, he said: “In the subcontinent, with a high rate of poverty, we are faced with the stark choice of having to balance between a lockdown necessary to slow down/prevent the spread of COVID19, ensuring people do not die of hunger and our economy does not collapse. So we are walking a tightrope.
“We have locked down educational institutions, malls, marriage halls, restaurants and other places where public congregates. But, to stop the devastation of the lockdown, we have kept our agriculture sector open and now we are opening up our construction sector.”
Earlier announcing a package for the construction industry on Friday, Prime Minister Imran Khan had said that Investors in construction sector would not be asked about their source of income.
He said that the sector plays an important part in development of a country. “Those investing in the construction sector will not be asked about their source of income. Withholding tax on all construction related material has been waived off except on cement and iron,” he maintained.
PM Khan said that the government has decided to give the status of industry to construction sector. “The tax rate will be fixed for the construction sector, and constructors will be charged tax per square foot or square yard,” he added.
Imran Khan further said that capital gain tax on property will not be charged. “The opening of construction industry is necessary to keep the economy running,” he added.
He said a Construction Industry Development Board is also being set up to promote the construction industry. “The sector will be opened from April 14. The government is also devising strategy to lower sales tax in coordination with the provinces,” the premier explained.
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