Construction sector relief package will approve after IMF consultation
Federal Minister for Planning & Development Asad Umar revealed that construction sector package announced by PM Imran Khan will approved after consultation from International Monetary Fund (IMF).
On April 3rd, 2020, Prime Minister Imran Khan announced a relief package to construction industry. He exempted investors as well as individuals in this particular sector from several taxes. He also announced PKR 30 Billion subsidy to construction sector. Meanwhile, he also updated the status of this sector to industry. The main aim is to increase the employment opportunity in the countries of Covid-19 pandemic.
For the approval of this package, Federal Minister for Planning & Development Asad Umar said that Prime Minister Imran Khan is continuously in contact with the IMF Managing Director (MD) for package approval.
Teresa Dabán Sanchez said that IMF linked several conditions for the package approval. These conditions are dependent upon nature, timeline & goals of the incentives provided. Moreover, IMF advised many countries including Pakistan to keep special focus on the most vulnerable strata of the society.