Islamabad: Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice President (VP) Tahir Abbasi recently issued a statement urging the government to develop the real estate sector as it can assist with reviving the country’s economy.
VP Abbasi further stated that the development of the real estate industry could aid in the growth of 40 allied industries. He made these statements during a meeting with President Federation of Realtors Pakistan Sardar Tahir Mehmood.
The ICCI VP said that the rationalisation of real estate taxes could help facilitate in industrial growth. He added that the development of the property sector could accelerate the economy and create employment opportunities.
The Federation of Realtors Pakistan is currently finalising its budget proposal for the property sector to be tabled before the government. The proposal holds suggestions to reduce the current deficit and broaden the tax base. Mr Abbasi said that after consulting the stakeholders, the federation would be reorganized across Pakistan. He also reaffirmed that effective measures would be taken by the ICCI to resolve realtor issues.