K-P govt to amend property laws

To attract investors, the provincial government has decided to amend the relevant laws to smoothen the process of buying and selling property, obtaining building approvals and completing other necessary procedures.

This was directed by the Khyber-Pakhtunkhwa (K-P) Chief Minister Mahmood Khan on Wednesday while presiding over a meeting to review the progress made in the housing and construction sectors.

The meeting deliberated on ways to boost the sector and help create greater employment opportunities in the wake of the novel coronavirus (Covid-19) pandemic.

CM Mahmood directed the relevant departments to draft a feasible plan to attract investments in the housing and construction sectors.

If amendments are required in the relevant laws to make the cumbersome land procurement and construction processes for private housing schemes easier, they will take those up.

Matters related to new legislation were also reviewed in the meeting, particularly on whether to give legal cover to the tax exemptions, which have been extended to the construction industry, through an ordinance and an executive order.

It was decided to take the required measures to protect the rights of investors as well as the end consumers of housing schemes.

Published in The Express Tribune, July 2^nd, 2020.