ICCI ready to play role in real estate industry, says Malik

Calls for tax amnesty, tax reduction for sector

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) has expressed its resolve to play a key role in resolving key issues of real estate sector.

“Although the government has recently given some relief to real estate sector, there is still much more to be done to remove the difficulties of the sector,” ICCI President Khalid Iqbal Malik said.

He was speaking to members of the Islamabad Real Estate Association (IREA) at their office after calling on them with other ICCI members.

He congratulated Rana Arshad, the newly-elected president of the association.  He said real estate sector was playing a crucial role in the economic development of the country and creating jobs, but the imposition of extra taxes had hindered growth.



He urged the government to reduce tax rates on this important sector of the economy to facilitate increased growth.

Malik said Finance Minister Ishaq Dar had promised to launch a new amnesty scheme which would reduce the problems of the real estate sector and added that the business community was still waiting for the announcement.

Islamabad Real Estate Association (IREA) President Rana Arshad and Secretary General Zulqarnain Abbasi highlighted the key issues facing their sector and hoped that ICCI would cooperate in addressing them.

Published in The Express Tribune, January 9^th, 2017.