Pakistan to 'introduce' PM's Construction Package in November

ISLAMABAD: The Pakistan government is preparing to introduce the Prime Minister’s Construction Package aimed at boosting the construction sector, ARY News reported on Thursday, quoting sources.

As per details, the PM’s Construction Package is expected to be launched in the first week of November.

The package will provide various incentives for the construction industry but will not include any tax amnesty.

The plan includes encouragement for high-rise buildings, and there may be provisions to allow rooftop residential units on existing homes, the sources added.

Additionally, the package might allow the construction of a third floor on two-story buildings. Low-cost housing development is also expected to be a priority under the package, with sources indicating a possible reduction in map approval fees.

Earlier, Prime Minister Shehbaz Sharif said construction work on the country’s first state of the art Islamabad IT Park has been accelerated to ensure its completion this year.

Speaking on the occasion of his visit to the under construction IT park in Islamabad today, he said work on this project is continuing round the clock.

He said the IT Park will be completed at a cost of twenty five billion rupees with seventy million dollars provided by South Korea as a soft loan.

The premier recalled that the project was awarded to the Korean company in 2022.

Expressing satisfaction over the quality of construction work, the Prime Minister said this IT park will house one hundred and twenty offices of IT enabled companies and provide job opportunities to ten thousand youth.