Construction Industry : Traders want tax cut on steel, cement

ISLAMABAD: Islamabad Chamber of Small Traders on Saturday made a plea to reconsider additional taxes on cement and steel industry in the recent budget as it will increase the cost of developmental projects. The construction industry continues to grow on the back of increased infrastructure activities, rising demand of houses and economic recovery while decreased interest rates as well as reduced oil and coal prices also favours this multi-billion dollar sector providing jobs to millions of people, it said in a statement issued here. However, the recent budget has not gone down well with the construction sector, said Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt. He said that the share of this sector in the economy reached an all-time high of Rs287,569 million in 2016 which was as low as Rs186,380 million in 2006. However, additional taxes will cause the share to go down, said Butt.

Published in The Express Tribune, June 4^th, 2017.

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