Senator Talha Urges To Rationalize Taxes On Real Estate Sector

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Aug, 2022 ) :Federal Minister for States and Frontier Regions Senator Muhammad Talha Mahmood on Thursday urged the need to rationalize taxes on the real estate and construction sector to facilitate its better growth that would help revive the economy.

He stressed the need to make conducive policies for the construction industry as it played a key role in strengthening the economy.

He said that Pakistan needed a business friendly environment and promotion of industrialization to overcome its current economic challenges.

He further emphasized that the need for making economic policies in consultation with business community to make them more productive and result-oriented.

He said this while speaking as chief guest at the pre-launch ceremony of "ICCI Pakistan Property, Housing and Construction Expo 22", said a press release.

The event was organized by Islamabad Chamber of Commerce and Industry and the expo would be organized from September 9-11, 2022 at Pak-China Friendship Centre.

A large number of exhibitors including property developers, builders, realtors, consultants, marketing companies and others would participate.

Speaking on the occasion, Muhammad Shakeel Munir, President, ICCI said that the purpose of organizing property expo was to create a platform for the business community of property, housing, and construction sectors to showcase variety of their projects under one roof and generate new business leads.

He said that the role of the construction industry was vital in the economic development of the country as the growth of over 70 allied industries was linked with it.

He urged the government to extend full support to this sector to address the current economic challenges.

Sheikh Amir Waheed, Convener, ICCI Expo Committee gave a detailed presentation to the potential exhibitors about the ICCI Pakistan Property, Housing and Construction Expo 22 and said that the Expo will provide exhibitors tremendous opportunities to market and sell their property and construction-related projects.

Chaudhry Muhammad Masood, Convener, ICCI Builders and Developers Committee assured the participants that the expo would bring historic footfall to help the exhibitors to maximize the business prospects of their construction projects.

Sardar Tahir Mahmood, President, Federation of Realtors Pakistan said that Pakistan's population was increasing and the country needed over 1.2 million housing units per year to bridge this rising gap.

He urged the government to provide maximum facilitation to the construction industry to meet rising housing needs and generate more economic activity.

Many big players of real estate and construction field including Imarat Group, AAA Associates, J7 Group, 5G Group, Graana, Smart Way Construction, Star Marketing, Elaan Marketing, Silver Oaks and others attended the event and got booked the stalls of their choice.