| Islamabad: The Pakistan government is preparing to introduce the Prime Minister’s Construction Package to revitalize the country’s construction sector, ARY News reported Thursday, quoting sources. The initiative is anticipated to be launched in the first week of November.
According to the details shared, the PM’s Construction Package will bring a range of incentives to support the growth and modernization of the construction industry, it will, however, not include any form of tax amnesty. The primary focus of the package appears to be the encouragement of high-rise building projects and the promotion of affordable housing solutions.
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The package is expected to offer provisions allowing rooftop residential units on existing homes, facilitating vertical expansion in urban areas. Additionally, a potential policy change could permit adding a third floor on two-story buildings, which may provide further options for homeowners and developers.
Affordable housing development will also be prioritized, emphasizing making low-cost housing more accessible. A reduction in map approval fees is reportedly under consideration to ease financial burdens and speed up project approvals for builders engaged in low-cost housing projects.
Read: Apni Chhat, Apna Ghar: Construction of houses begins across Punjab
This upcoming package reflects the government’s push to address Pakistan’s growing housing needs, boost the construction sector, and stimulate economic activity through strategic incentives without extending a tax amnesty. Further official details are expected to be announced in early November. |
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