The government has prepared a relief package for the real estate and housing sector aimed at benefiting the public.
The package, devised by the Ministry of Housing's 11-member task force, includes significant tax revisions and recommendations to revitalise the sector, Express News reported.
The task force's proposals, presented to Prime Minister Shehbaz Sharif, suggest several measures to support the sector.
Among the key recommendations are allowing the construction of three-storey houses, offering full tax exemptions for first-time homebuyers, and reducing property transaction taxes.
The task force has also recommended lowering the property sale tax from 4% to 2%, cutting the buyer's tax from 4% to 0.5%, and eliminating federal excise duties on property transactions.
Furthermore, the proposal includes providing housing subsidies for low-income individuals and offering loans for home construction with repayment periods ranging from 5 to 20 years.
Prime Minister Sharif has scheduled a crucial meeting on February 3 to review the recommendations and make a final decision on the matter.
Interfaith week
Prime Minister Shehbaz Sharif in his message on World Interfaith Harmony Week being observed from February 1st to 7th urged the religious scholars, community leaders and citizens to play role in promoting brotherhood as extremism and divisive rhetoric were threat to social peace and harmony.
The prime minister shared the views while joining the international community in observing World Interfaith Harmony Week, a Prime Minister's Office said in a statement.
The prime minister said this week served as a powerful reminder of the importance of dialogue, understanding, and cooperation among diverse religious communities.
"Pakistan, envisioned by our founding father Quaid-e-Azam Muhammad Ali Jinnah as a sanctuary for all faiths, remains steadfast in its constitutional oath to protect every citizen's right to belief, dignity, and equality. Our faithrooted in Islam's timeless teachings of justice, mercy, and respect for all creationcompels us to lead by example," the prime minister said.
He resolved that the government would continue to uphold these values through policies that promote inclusivity and social cohesion.
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