Government Announces Comprehensive Housing Relief Package with Tax Reforms

The federal government presents a comprehensive relief program that brings major tax revisions and regulation improvements to Pakistan’s housing sector. Through eleven ministry task force members the housing ministry created a plan that gives full tax breaks to first home purchasers and lowers property transaction tax rates from 4% to 2%.

Punjab Chief Minister Maryam Nawaz started a Special Planning Authority to manage both city and countryside land use. The plan wants to insert standard development rules in various zones and block unpermitted housing developments from growing. The authority checks physical district plans every four years to make sure urban development remains possible.

The relief package includes private homes subsidies for low-income customers and construction loans with up to 20 years to repay. The Prime Minister set February 3 as a date to approve recommendations at his upcoming meeting. Under Phase One of the Lahore Development Plan the government has 414 ongoing schemes and intends to install a digital monitoring tool to detect land-use offenses as they happen.