Islamabad, January 27, 2025 – A high-level task force, established by Prime Minister Shehbaz Sharif, convened on Monday to deliberate on the pressing issue of high taxes on property transactions and its impact on the real estate sector.
KARACHI: National Bank of Pakistan (NBP) has approved an amount of Rs1.5 billion to kick start the affordable housing project being developed by Waves Singer Pakistan Limited, a statement said on Monday. A signing ceremony between NBP and Waves was held in Lahore. With a commitment of Rs1.5 billion, NBP will be one of the […]
KARACHI: State Bank of Pakistan (SBP) on Thursday issued revised mark up subsidy allowed by the government for low cost housing scheme. The SBP issued instructions to the banks for implementation of the revised mark up subsidy approved by the government. In view of the feedback received from various stakeholders, Government of Pakistan (GoP) has […]
KARACHI: The State Bank of Pakistan (SBP) on Friday amended regulations to incentivize banks for financing low cost and affordable housing. A statement said that the central bank is constantly providing enabling regulatory environment to promote housing and construction finance. This is an important sector that has significant economic linkages with other sectors in the […]
KARACHI: Meezan Bank has become the first financial institution in the country to disburse the first two Shariah-compliant housing finance facilities under Prime Minister’s Mera Pakistan Mera Ghar, Low Cost Housing Finance scheme, a statement said on Monday. The facilities were disbursed to Muhammad Anees, who works as a Gardener (Mali) and Muhammad Shahid Khan, […]
KARACHI: The Federal Board of Revenue (FBR) has announced a significant tax incentive to promote affordable housing in Pakistan. According to official sources, the income tax on profits and gains earned by a person from low-cost housing projects shall be reduced by 50 percent.
KARACHI: The Sindh government has exempted sales tax on services provided or rendered to low cost housing projects funded by the federal government or Sindh government. Sindh Revenue Board (SRB) issued notification No. 3-4/04/2020 dated January 21, 2020. According to the notification: “construction relating to such of the low cost affordable public housing projects as […]
KARACHI: The income tax rate on low cost housing projects shall be reduced by 50 percent, according to income tax law recently updated by the Federal Board of Revenue. The FBR updated Income Tax Ordinance, 2001 incorporating changes introduced through Finance Act, 2019. As per Second Schedule of the updated Ordinance, the tax payable on […]
State Bank of Pakistan
KARACHI: The State Bank of Pakistan (SBP) has allowed certain exemptions and relaxations in prudential regulations for promoting low cost housing finance. A circular issued a day earlier, the SBP said that in order to promote low cost housing finance in the country, it has been decided to define the low cost housing as part […]
State Bank of Pakistan
KARACHI: State Bank of Pakistan (SBP) on Monday launched Sharia compliant loans for low cost housing for special segments. In a circular issued by the central bank stated that in order to facilitate availability of long-term affordable funding to some of the selective low income segments, SBP had launched a “Financing Facility for Low Cost […]