Real Estate sector investment volume is $88b in Pakistan: President EAA
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Loading... - Fariq Joshi
- 19 Jan 2023
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President Islamabad Estate Agent Association and Federation of Realtors Pakistan, Sardar Tahir Mehmood on Saturday said that the real estate sector is the second largest sector of the country in which the investment volume is $88 billion.
The President EAA said that every year overseas Pakistanis invest $4 billion in this sector which can be increased to$ 8 billion.
He said this while addressing the All Pakistan Real Estate Conference, organized by Islamabad Estate Agent Association (EAA) and Federation of Realtors Pakistan here in a local hotel.
In addition to Chairman of Realtors Pakistan Ejaz Khan, real estate leaders from across the country and President Rawalpindi Chamber of Commerce Saqib Rafiq, Secretary General, United Business Group (UBG) Federation Pakistan Chamber of Commerce and Industry (FPCCI) Zafar Bakhtawari and leaders from related industries from the four provinces also spoke on the occasion.
Meanwhile, addressing the conference, he demanded that the government should implement tax rationalization, abrogation of 7E, pave the way for overseas investment and reduce the tax rate.
Sardar Tahir said that with these measures, investment will increase in the country and the economy of the country will flourish.
At present, this sector is facing major challenges, in which the excess of Gain tax, property registration and other taxes is a threat to this sector, he said.
He said that the government can take the country’s economy from recession to growth by developing this sector.
He said that the real estate sector is currently a major contributor to the country’s Gross Domestic Product (GDP) in which the largest workforce is currently working. Read More…
