KARACHI: Association of Builders and Developers of Pakistan (ABAD) on Thursday welcomed the extension in Incentives for Construction industry up to June 30, 2021 by Prime Minister Imran Khan.
The association said that we are grateful to the Prime Minister because this extension will create thousands of jobs opportunities and contribute towards strengthening economic growth apart from providing low cost housing to the people.
Chairman ABAD Fayyaz Ilyas, Senior Vice Chairman Khawaja Muhammad Ayoob, Vice Chairman Arif Sheikhani, Chairman Southern Region Eng. Danish Bin Rauf, Chairman Northern Region Sheraz Mannoo and Vice Chairman Hyderabad Sub-Region Kashif Shaikh, in a joint statement, have said that the announcement of the Prime Minister for extension in construction incentive package upto 30th June, 2021, extension of Fix Tax Regime upto 31st December, 2021, extension in project completion upto 30th September 2024 and buyers will not be asked about source of income upto Mrach, 2023, will prove beneficial for the national economy.
They said that ABAD has requested the Prime Minister to extend the date of construction incentive package because it was not possible for builders and developers to complete projects due to spread of corona’s second wave. We are grateful to the Prime Minister, who accepted our request and extended the date and give a gift of New Year.
The announcements of Prime Minister will a long way in growth of national economy. They hoped that Sindh government will also implement digitalization of land record and adopt automation of building plan approvals.