Islamabad: Minister of State for Information and Broadcasting Farrukh Habib on Thursday stated that the revival of construction sector has improved economic activity in the country and raised investment of PKR one trillion, media sources reported.
Prime Minister (PM) Imran Khan has announced a special package for the construction sector, which includes exemption from the Federal Board of Revenue (FBR) and a decrease in fixed taxes. This package was introduced to mitigate the negative impact of the COVID-19 lockdown.
Furthermore, the government has approved various construction projects totalling PKR 1,000 billion, including PKR 491 billion in projects registered under the FBR’s exemption scheme. According to Mr Farrukh, the thriving construction industry would have a multiplier effect on over 120 allied industries. As a result, it would generate PKR 100 billion in economic activity and 700,000 employment opportunities in the country.
The details of the projects are as follows:
PKR 373 billion worth of 24,404 investment projects were approved in Punjab. It is expected to generate PKR 1,900 billion in economic activity and create 325,000 job opportunities in the province.
PKR 74 million projects were approved in Khyber Pakhtunkhwa (KP), which will produce PKR 371 billion economic activity and 64,000 jobs.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
