| Prime Minister Constitutes a Committee to Solve Tax Challenges |
ISLAMABAD: Prime Minister Imran Khan on Monday constituted a committee to prepare proposals to address the federal and provincial tax challenges facing the construction industry.
The committee will be chaired by New Pakistan Housing Authority Chairman Lieutenant General (R) Anwar Ali Haider.
The Prime Minister was presiding over a high level meeting on restoration and development of the construction sector. The meeting elaborated on the challenges facing the sector.
According to official news media, the Prime Minister highlighted the importance of the construction sector in promoting economic activities and said that the present government has given a lot of importance to this sector, which will help in understanding the scheme of five million housing units. ۔
Chief Minister Punjab Usman Bazdar, Chief Minister Khyber Pakhtunkhwa Mehmood Khan, Finance Minister Makhdoom Hisham Jawan Bakht, Housing Minister Mian Mahmood Al Rashid, Finance Minister Balochistan Zahir Ahmed Balidi, FBR Chairman Syed Shabbir Zaidi, board attended the meeting. Investment Chairman Syed Zubair Haider Gilani, Deputy Chairman Planning Commission Jehanzeb Khan, Lt. Gen. (R) Anwar Ali Haider, Chairman, New Pakistan Housing Authority and senior federal and provincial government officials.
The Prime Minister said that promotion of the construction sector is the top priority of the government, since around 40 industries have been associated with it, besides the development of these industries, the construction sector will also create employment opportunities for the youth. ۔
The meeting discussed in detail various proposals for the provision of uniform taxation, bank loans and promotion of public-private partnership for the construction sector.
The Prime Minister was briefed about the facing builders, problems contractors, developers and real estate businesses, especially the federal and provincial tax ratios, problems with registration, problems with funding from banks, other government procedures and corruption.
Other members of the committee included the Chairman of the Federal Board of Revenue (FBR), the Governor’s State Bank, the Finance Minister, the Provincial Chief Secretary, and other relevant officers.
The Prime Minister also directed the committee to submit recommendations in the next 24 hours to resolve taxes, loans from banks and other problems facing the construction sector.