Lahore: Federal Minister for Planning & Development Asad Umar on Monday said that the government approved the construction industry package after holding consultations with the International Monetary Fund (IMF), a news source reported.
Last week, Prime Minister (PM) Imran Khan announced a
construction industry package; offering tax exemptions and subsidies worth PKR
30 billion. With these incentives, the government aims to increase employment
opportunities in the country in the wake of the COVID-19 crisis.
Umar highlighted that the PM contacted the IMF Managing Director (MD) to discuss the construction industry package.
Meanwhile, IMF Resident Representative in Pakistan Teresa Dabán Sanchez confirmed that the international lending institution had linked certain conditions with the construction industry package provided by the government.
According to details, these conditions include those pertaining
to nature, timeline, and goals of the incentives provided. IMF has advised
Pakistan, along with other countries on the fund programme, to direct their
incentive packages towards the provision of support to the most vulnerable
sections of the society amid the ongoing pandemic.
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