End of amnesty scheme slows down dollar inflows – Newspaper


KARACHI: The end of an amnesty scheme for investment in the construction industry on June 30 has created hurdles in the dollar inflow in the country and is likely to hurt growth of the sector, industry sources told Dawn on Saturday.

Anyone investing in the construction sector was not questioned about their source of income which boosted the construction industry and inflows from the foreign countries — especially at a time when the pandemic threatened global economies.

Bankers said the inflows under the scheme had slowed down. However, no data was available to substantiate the statement. Meanwhile, currency experts estimate the inflow under the scheme reduced up to 50 per cent.

SBP says 97pc target for housing sector was achieved in FY21

Prime Minister Imran Khan had announced the package for the construction industry in April 2019. The amnesty scheme that had been offered till December 2020 was later extended for another six months to…

Read more…