Housing sector taxes need cut: minister

ISLAMABAD: Federal Minister for Housing and Works Riaz Hussain Pirzada has said that reforms and several proposals are under consideration for the development and promotion of the housing sector.

The task force is finalizing recommendations. The report will be submitted to the Prime Minister in the next two weeks.

Speaking informally to reporters at his office, he said that the government’s priority is to provide housing facilities to low-income people. Currently, the tax rate on the housing sector is very high and needs to be reduced, he said.

He said that there is a proposal to demolish old government houses in various sectors of Islamabad and construct high-rise buildings. Many foreign companies are interested in investing in housing projects under joint ventures, he added. However, the prime minister will take the final decision on policy reforms in the housing sector, he said.

He said that allotment of government houses will be done only on merit. I am against any kind of discretionary powers. A proposal to increase hiring to reduce pressure on government residences has been sent to the Finance Division, he maintained.