ICCI Demands Conducive Environment For Real Estate Sector
Faizan Hashmi Published October 14, 2019 | 04:00 PM
Islamabad (UrduPoint / Pakistan Point News - 14th October, 2019) Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that real estate sector has the potential to drive the growth of economy and stressed that government should take policy measures to create conducive environment for it so that it could play more effective role in the economic development of the country.He was addressing a delegation of Islamabad Estate Agents Association (IEAA) that visited ICCI led by its President Sardar Tahir.
Ch. ZahidRafiq, Secretary General, Naveed Akhtar Vice President, Islamabad Estate Agents Association, Nadeem ud Din,Rana Arshad and other representatives of IEAA were also present at the occasion.Muhammad Ahmed Waheedsaid that real estate sector played vital role in promoting business activities, economic growth, employment generation and poverty reduction and urged that government should rationalize taxes on this sector for its better growth.
He said that the growth of over 50ancillary industries including cement, steel, brick, timber and building material was associated with real estate sector and creating an enabling environment for it would facilitate the growth of all allied industries.
He informed the delegation that ICCI has got a stay order from Islamabad High Court against the 300 percent increase in property tax by MCI and said that business community could now deposit property tax on old rates till the court's decision in this case. He assured the delegation that ICCI would fully cooperate with IEAA in its efforts for resolving the issues of real estate sector.
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