Islamabad: Naya Pakistan Housing & Development Authority (NAPHDA) Spokesman Asim Shaukat Ali on Monday (October 25) said the government will provide added subsidies to the housing sector in the country, news sources reported.
This enhanced subsidy will be provided on the construction materials in wake of the increasing dollar value. The subsidy will be in the form of tax exemption on the purchase of construction materials and steel products. The representative also stated that the digitalization of state land is progressing at a quick pace, which would help reduce land grabbing. The cadastral maps will also help lessen the property-related caseload on courts, speeding up the judicial process.
Concerning the NPHP, he stated that the construction industry is anticipated to employ 0.9 million people, with a total economic activity of PKR 5 billion. He further stated that banks are required to accept or reject loan applications within one month. So far, 22,000 loan applications totalling PKR 75 billion have been accepted out of 54,000 applications.
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