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Budget: Relief for Construction Sector

ISLAMABAD: The construction sector drew the main focus of the government as the common man as well as builders were given a major relief in the Federal Budget 2023-24, unveiled by Minister for Finance and Revenue, Ishaq Dar in the National Assembly on Friday.

The minister said that keeping in view the importance of construction sector in economic development, the government had decided to facilitate the common man and builders in the construction of houses and buildings.
“Around 40 industries are linked with this sector (construction). The construction enterprise will be given either a 10 per cent or five million rupees concession or which be less of the two for the next three years.
“And the individuals, constructing their own buildings will be provided 10 per cent tax credit or one million rupees concession, or which will be less of the two.
“The concession will applicable on the projects, commencing from July 1, 2023 and afterwards,” the minister added.


M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.

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