Published On: Wed, Jul 17th, 2019
Published in Category: Islamabad

ICCI calls for revision of taxes on real estate sector

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Islamabad: The real estate sector played vital role in the economic development of the country as growth of over 40 other industries were linked with this sector, but the government has enhanced taxes on real estate sector in its annual budget due to which business of this sector was suffering.

Therefore, government should revise downward high taxes on real estate sector so that this sector could play more effective role in the economic revival of the country. This was observed by Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry while addressing a dinner hosted by Malik Najeeb, President, Gulberg Estate Agents Association, Islamabad.

Ahmed Hassan Moughal said that PTI government has planned to build 5 million houses for low income people and create 10-million jobs. He said if government paid more focus to real estate sector and reduced taxes on it, this sector could help the government in achieving its targetsset for houses and jobs. He said the strengthening of real estate sector would put the economy on the path of accelerated growth.

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