Islamabad: Dec 31, 2020 (TNS): Prime Minister has said new master plans of all big cities of Pakistan will be prepared to prevent unplanned spread of urbanization and to protect agri land.
During a briefing in Islamabad on Thursday, he said unplanned spread of cities can create food security problems in the country in future if this practice is continued unabated.
The Prime Minister said economic activities of around 1,500 billion rupees will be started in Punjab only and will generate around 250,000 jobs as a result of massive package announced by the government for the construction sector.
He said so far 186 construction projects have been registered at the FBR portal, while work on projects worth 163 billion rupees has already begun.
Imran Khan said banks have reserved 378 billion rupees for December 2021 to support the construction sector.
He said a subsidy of 30 billion rupees will be provided to low income people enabling them to get their own house under affordable housing scheme.
The Prime Minister said loan subsidy at the interest rate of five and seven percent respectively will be available on houses of five Marla and above and a grant of 300,000 rupees will be given to first 100,000 houses. Imran Khan said an automated approval regime has been introduced in the federal capital, Punjab, and Khyber Pakhtunkhwa for speedy start of a housing project.
He said land digitization in Karachi, Lahore, and Islamabad will be completed by August next year. Besides, record of state land in these cities is also being completed on priority basis.
The Prime Minister said it is a good sign that record sale of cement and steel has been witnessed, which shows boom in the construction sector.
Fulfilling a major demand of the construction industry, the Prime Minister granted one-year extension in the date for the Fixed Tax regime to boost economic activity and create employment.
The Prime Minister made the announcement and said the date has been extended till 31st December next year and described it a new year gift for the construction sector which is the key to offset negative impact of Covid19 pandemic on the national economy.
Imran Khan also extended the date for disclosures of source of income by the investors till 30th June next year and the one for buyers till 31st of March 2023.
Besides, he said that the date for completion of projects has also been extended by one year.
