Islamabad : Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry has said that Prime Minister Imran Khan had announced an attractive incentive package for the construction industry which has been included in the budget but despite the passage of two months, this package could not be implemented as no department has yet issued any notification for implementation of its incentives. He demanded that the Prime Minister should take notice of this situation and issue immediate orders to all the concerned departments to implement the package in letter and spirit.
Muhammad Ahmed Waheed said that the growth of the construction industry will move the wheel of the economy faster as more than 50 allied industries were associated with this industry that will also grow fast. He said, thousands of people will be employed which will benefit reduce poverty in the society while construction of houses under Pakistan Housing Program will benefit low-income people. He, therefore, urged that the Prime Minister should take steps for immediate implementation of his announced package.
Mohammad Ahmad Waheed said that the new federal budget has proposed to impose a heavy luxury tax on houses and farmhouses in Islamabad which was unjustified. He said that last year MCI had increased the property tax in Islamabad by 300% while the citizens of Islamabad were already paying six types of taxes on their houses. In these circumstances, there was no justification for the luxury tax in Islamabad, so the decision should be withdrawn immediately. He further said that a fixed tax for small traders was announced in the budget, but its details have not come out as yet.
This news has been taken from thenews.com.pk
