Govt to start construction activity at a large scale: Anwar Ali
July 12, 2020
ISLAMABAD (92 News) – Naya Pakistan Housing Authority Chairman (rtd) Lieutenant General Anwar Ali Haider said government is committed to start construction activity at a large scale.
Addressing a news conference along with Minister Minister for Information Senator Shibli Faraz on Sunday, Anwar Ali said that the government has eased the procedures involved in obtaining NoCs and maps to facilitate the investors in construction industry.
He said fixed tax regime has been introduced for builders and land developers and the tax has been reduced by 90 per cent.
People will not be asked about source of investment
Speaking on the occasion, Shibli Faraz has urged the construction industry to take advantage of the government’s new construction policy by December 31. He said people availing this facility will not be asked about their source of investment.
He said government is making all out efforts to mitigate hurdles being faced by the construction industry. He said a committee has also been formed to solve issues related to construction industry.
Shibli Faraz said government has devised a one window operation to reduce the process time required for clearance of documents. He said people, who desire to construct their homes by borrowing from banks, will be given loans at a subsidized interest rate.
He said the interest rate of five marla houses will be five per cent whereas for ten marla houses it will be seven per cent. He said government has asked the banks to dedicate about 330 billion rupees of their lending for construction industry.