PM Imran Khan has just announced a relief package for the country’s construction sector as The Government is taking the decision to abolish all the withholding taxes on building materials which includes cement and steel.

In addition, the City’s deputy commissioner has notified a 4% reduction in stamp duty on property transactions. As a result of these flexibilities made in the real estate sector, the sale/purchase activity has spiked.

Read: Historic relief for the Construction Sector

The previously imposed condition of one must be a taxpayer to sell and purchase property is also suspended which helped the revival of the construction industry in this epidemic of COVID-19. Furthermore, there will be no Capital Giant Tax (CGT) upon the selling of the house.