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In an event held today at Islamabad by Prime Minister Imran Khan for Pakistan relief fund for Coronavirus, the CEO of Blue Group of Companies Mr. Saad Nazir announced to donate Rs.2Crore for the cause on behalf of the management of Blue world city.

He also promised to provide free of cost land for 50,000 apartments and 5000 fully constructed houses for the relief fund.

In addition to this Mr. Saad Nazir also addressed Prime Minister Imran Khan directly and thanked him for the historic concessions announced for the real estate and the construction sector of Pakistan.

He stated, “We are thankful to you for providing relief package for the construction industry that I believe would play a crucial role in converting Pakistan into a better state than Singapore and Dubai, Inshallah! In that light, I think we the developers have ample package that can help make our state like Singapore

This generous step taken by the management of Blue World City is not only exemplary but is also a major contribution towards giving the government a helping hand to stabilize the economic conditions of Pakistan and to overcome the setback the country has faced due to the Corona epidemic. We wholeheartedly appreciate and support this initiative taken by Blue World City.

Previously in efforts to stabilize the construction industry in our country PM Imran Khan announced a relief fund for real estate and changed the status of the construction sector to industry. This action was taken after the government decided to announce the Rs100 billion relief package wholly dedicated to the construction industry.

Following are the key points from the Prime Minister’s Announcement of this Relief Package:

  • No Money trail for investment in the construction sector
  • All withholding tax on materials in the construction sector are waived off
  • A strategy to be set in place to lower sales tax in coordination with the provinces
  • Relief in taxes for those working in the construction sector
  • Capital Gain Tax will not apply to those selling properties.
  • A subsidy of Rs30 billion will be provided for Naya Pakistan Housing Scheme.

The news of this generous donation was covered by all the leading newspapers in the country including the Dawn, The News, Express, Sunday, Nawa-e-Waqt and many others:

Let us know in the comments section below about your opinion on the matter or if you have any questions regarding real estate, we will reply as soon as we can. For more project updates and latest real estate news regularly browse through our website.

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Maria Zafar
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