ISLAMABAD: In a bid to encourage investment in Pakistan’s housing and construction sector, the Board of Investment (BOI) hosted a seminar in Dubai.
While speaking on occasion, BOI Secretary Fareena Mazhar briefed the participants on the potential the sector holds and the incentives offered, which included tax-based rebates introduced under the Tax Laws Amendment Ordinance 2020, exemption of builders & developers from withholding taxes on the purchase of building materials and any tax payable on the income and facilities to speed project approvals through one-window operation under the Naya Pakistan Housing and Development Authority (NAPHDA).
The participants were also briefed on initiatives introduced by the State Bank of Pakistan (SBP), including setting up a target of a minimum of 5% for banks to approve housing finance to promote the sector.
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