2023-24 Budget: Construction Industry sees significant boost
Federal: The budget for 2023-24 is about to roll out and the current finance & revenue minister, Ishaq Dar has announced a big relief for the construction industry. During his presentation at the National Assembly, Mr. Dar reiterated how the coming budget will focus hugely on the construction market in general.
Moreover, the budget aims to give as many subsidies as possible to the general public in many sectors but specifically to the builders. It is no novel news that the entire construction sector of the country adds massively to the overall economy of a country. Thus, the finance & revenue minister focused on the importance and spoke of the relief.
Read more with EL News: RDA to take strict action against all illegal construction
Talking about the importance, Mr. Dar also mentioned how the industry alone is interconnected with 40 other industries, thus, contributing hugely. Therefore, giant concessions will be given. So as per the reports, a tax credit of 10% or a concession of around Rs 1 million, whatever suits you best, will be there. Any individual who is developing their own building can opt for it.
It is also pertinent to state that the new changes and applications will get through after July 1st, 2023. For further information and to get all the latest news in the real estate sector, stay connected with Estate Land Marketing – a name of great trust and experience.
