Due to the alarming situation in Pakistan because of COVID-19, people are bound to stay in their houses, unemployment is increasing on daily basis, it has its devastating impacts on the businesses either of large scale or small scale. It has dodged the economical structure globally. In a developing country like Pakistan it has attacked on the system more deeply. The industries are bearing a disturbing loss consistently either it is of agriculture, textile, manufacturing or construction industry.
Previously, government had announced ease in lockdown despite the rise in the cases of coronavirus because of the effect it was having on the economy and the work force. Government has loosened restrictions on a range of industries across the country in a bid to battle the economic fallout of a continuing lockdown, in place to curb the spread of the coronavirus in the country. Prime Minister Imran Khan announced that the construction industry would be foremost among more than a dozen sectors that would be allowed to reopen operations. Prominent economists, experts and associations hailed the concessional package, announced by the government, for construction industry through amendments in the Income Tax Ordinance (2001) to provide tax relaxation to the builders and developers in the existing COVID-19 pandemic situation.
Saturday 11 July 2020