Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed urged the government to reduce taxes on real estate sector, according to a news report. Waheed is of the view that this can effectively put this sector on the path of economic development.
The statement came while Waheed was addressing a delegation of Islamabad Estate Agents Association, led by the association’s president Sardar Tahir. The meeting was attended by various dignitaries and other office bearers and members from both organisations.
Waheed added that the role of the real estate sector is essential in promoting commerce, industry, growth, employment, and poverty reduction, but with heavy taxes, this potential was getting lost. He highlighted that because of growth in real estate sector, the associated industries are also performing much better, but because of higher taxes, most investors seem to be less interested.
Waheed also said that the government should allow non-filers to purchase property of over PKR 5 million and that the Capital Development Authority should be more proactive in the capital.
