Karachi: Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin on Sunday (November 14) assured that the federal government will extend the exemption on wealth reconciliation statements for first-time homebuyers beyond December 31, according to news sources.
Finance Minister Tarin, while speaking at the ceremony of Naya Nazimabad Hospital, stated that the government will consider extending the waiver as it was everyone’s right to get a tax break. A real estate developer Arif Habib stated that developers are already benefitting from a few amenities and asked to extend the wealth reconciliation exemption to first time home buyers.
Reportedly, the Naya Nazimabad Hospital is a not-for-profit, tertiary-care institution that will be developed in two phases. In the first phase, the hospital will encompass 250 beds across four floors. It is expected to inaugurate by April 2023. It was reported that Habib Bank Limited (HBL) provided PKR 1 billion under State Bank of Pakistan’s (SBP’s) Islamic Refinance Facility at 0% mark up for the construction of Naya Nazimabad Hospital.
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.
