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Tarin Assures Wealth Reconciliation Waiver for First-time Homebuyers

According to news reports, Prime Minister’s Advisor on Finance and Revenue Shaukat Tarin have informed Karachi residents that the federal government will prolong the exemption on wealth reconciliation statements for first-time homeowners beyond December 31.

Arif Habib, a real estate developer, claimed that developers already benefit from a few facilities and requested that the wealth reconciliation exemption be extended to first-time homebuyers.

Finance Minister Tarin announced during the opening of the Naya Naziabad Hospital that the government will explore extending the tax exemption because it is everyone’s right to receive one.

Read: Faisal Town Phase 2 Closes 5 Marla and 8 Marla Plot Bookings

According to reports, the Naya Nazimabad Hospital is a non-profit tertiary-care facility that would be constructed in two parts. The hospital will feature 250 beds on four levels in its initial phase. It is anticipated to open in April 2023.

It was claimed that Habib Bank Limited (HBL) donated PKR 1 billion under the Islamic Refinance Facility of the State Bank of Pakistan (SBP) with no markup for the development of the Naya Nazimabad Hospital.

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