ADVERTISEMENT
Wednesday, July 16, 2025
No Result
View All Result
The AZB More Than Just News
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
No Result
View All Result
Daily The Azb
No Result
View All Result
Home Headline

ICCI calls for reducing taxes on real estate sector for its better growth

News Desk by News Desk
July 25, 2018
ICCI calls for reducing taxes on real estate sector for its better growth
Share on FacebookShare on Twitter
Advertisements

Islamabad (    ) Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry has called upon the government to reduce heavy taxes on real estate sector so that this important sector could play effective role in the economic development of the country. He was addressing a delegation of Islamabad Estate Agents Association that visited ICCI led by its President Sardar Tahir. Ch. Zahid Rafiq, Secretary General, Islamabad Estate Agents Association, Abid Khan Chairman Founder Ittehad Group, Tahir Abbasi Patron-in-Chief, other office bearers and members of the Association were also present at the occasion.

Sheikh Amir Waheed said that the role of real estate sector was vital in promoting commerce, industry, growth, employment and poverty reduction but imposition of heavy taxes on it has badly affected its growth. He said that the growth of about 250 ancillary industries including cement, steel, brick, timber and building material was linked with real estate sector, but high taxes and new method of determination of property prices have slumped business of real estate and its allied industries. He said due to this situation, many investors were leaving this sector which was not good for the economy. He emphasized that government should resolve the key issues of real estate sector and rationalize taxes on it as its growth would yield multiple benefits for the economy including jobs creation, increase in tax revenue, growth of trade & industrial activities and the overall economy.

Advertisements

Speaking at the occasion, Sardar Tahir, President, Islamabad Estate Agents Association highlighted the key issues of real estate sector. He said that Budget 2018-19 has barred non-filers from purchasing property of Rs.5 million and above which has badly affected business activities in this important sector of the economy. He stressed that government should remove ban on non-filers and allow them to purchase property of Rs.5 million and above by charging some additional tax on them.  He said that CDA was not resolving issues of real estate sector and urged that the civic body should adopt a proactive approach to address the key issues of this sector. He said FBR should also reduce heavy taxes on property business so that this sector could play enhanced role in the economic growth of the country.

Muhammad Naveed Malik Senior Vice President ICCI, Ch. Zahid Rafique General Secretary, Waheed Akhtar Vice President Islamabad Estate Agents Association, Zubair Ahmed Malik Chairman Founder Group, Abid Khan Chairman Founder Ittehad Group, Muhammad Ejaz Abbasi former President ICCI, Khalid Chaudhry, Mussarat Ejaz Khan, Ch. Nadeem ud Din, Rana Arshad and others also spoke at the occasion and called upon FBR, CDA and Housing Foundation to address the key issues of real estate sector for its better growth.

Advertisements
News Desk

News Desk

Welcome to our web desk! We're a dedicated team of digital enthusiasts passionate about delivering timely and engaging content to our online audience.

Related Posts

TCF Launches Baghbaan Internship 2025 with Overwhelming Youth Response Nationwide
Business

TCF Launches Baghbaan Internship 2025 with Overwhelming Youth Response Nationwide

July 15, 2025
Aga Khan University’s Dr Zulfiqar A. Bhutta Awarded Prestigious Virchow Prize 2025 for Lifelong Leadership in Global Maternal, Newborn, and Child Health
Business

Aga Khan University’s Dr Zulfiqar A. Bhutta Awarded Prestigious Virchow Prize 2025 for Lifelong Leadership in Global Maternal, Newborn, and Child Health

July 15, 2025
Saudia Group Ranks First Globally in On-Time Performance for June 2025, Excelling on Pakistani Routes
Business

Saudia Group Ranks First Globally in On-Time Performance for June 2025, Excelling on Pakistani Routes

July 15, 2025
CBD NSIT DECLARED STZA DEVELOPMENT ZONE
Business

CBD NSIT DECLARED STZA DEVELOPMENT ZONE

July 15, 2025
The Storm After the Alliance Between UBG and BMP Has Yet to Settle. Mian Anjum Nisar
Business

The Storm After the Alliance Between UBG and BMP Has Yet to Settle. Mian Anjum Nisar

July 15, 2025
Türkiye Commemorates July 15 Democracy and National Unity Day in Karachi
ARTICLES

Türkiye Commemorates July 15 Democracy and National Unity Day in Karachi

July 15, 2025
New UK eVisas for Pakistani students and workers
Business

New UK eVisas for Pakistani students and workers

July 15, 2025
A Colorful Evening Featuring Artists and Cricketers
Business

A Colorful Evening Featuring Artists and Cricketers

July 15, 2025
Faysal Bank and Smart1-Tech Join Hands to Advance Digital Payments Ecosystem
BANKING

Faysal Bank and Smart1-Tech Join Hands to Advance Digital Payments Ecosystem

July 15, 2025
PTCL Group Integrates M2M Devices, Data Center Services and Managed Connectivity Solutions Across TPL Corp & its Operating Companies
Business

PTCL Group Integrates M2M Devices, Data Center Services and Managed Connectivity Solutions Across TPL Corp & its Operating Companies

July 15, 2025
Next Post
ALITA – Battle Angel’s Trailer Launch at Cinepax

ALITA - Battle Angel’s Trailer Launch at Cinepax

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Most Popular

PM Youth Laptop Scheme 2025: HEC Releases Merit List – Check Your Eligibility Online Now!

Improving Pakistan’s Response to Gender-Based Violence – A discussion on implementation of the Anti-Rape Act 2021.

Yinyleon & her husband most viewed amateurs 2022 on adult site.

Miss England semi-final winner Melissa Rauf made history

Mehwish Salman Ali Elected President of CxO Global Forum USA Chapter

Must Read

OneWeb
Headline

OneWeb & REDtone Partners to Offer Next-generation Satellite Connectivity

November 2, 2021
Lucky Cement
Headline

Lucky Cement awarded for Best Corporate Report!

August 22, 2019
The Azb is a 24/7 online news platform that covers a wide range of topics including business, economics, technology, finance, travel, fashion, and lifestyle.

Quick Links

  • Home
  • About us
  • SCI-TECH
  • Live TV
  • Banking

Useful Links

  • Videos
  • Reviews
  • Advertorial
  • Photos
  • About us
  • Author
  • Home
  • Latest News
  • Partner
  • Privacy Policy
  • Russian Theatre Group Celebrates Fifth Anniversary in Pakistan.
  • Terms and Conditions
  • The Azb – More Than Just News
  • Contact

© Copyright 2024 theazb. All Rights Reserved.

No Result
View All Result
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION

© Copyright 2024 theazb. All Rights Reserved.