Tahir Abbasi, Senior Vice President, Islamabad Chamber of
Commerce and Industry (ICCI) said that the growth of over 40 allied industries
relied on the growth of real estate sector and added that government should
focus on the better development of this important sector that would help in
reviving the economy. He said this while exchanging views with Sardar Tahir
Mehmood, President, Federation of Realtors Pakistan during a meeting with him.
Ch. Masood, Ch. Abdul Ruaf, Muhammad Naveed Malik, Aslam Khokhar, Shakeel
Munir, Ch. Nadeem, Malik Najeeb and Rashid Tufail were also present at the
occasion.

Tahir Abbasi said that real estate sector played vital role in the economic
development of country and stressed that government should rationalize taxes
on it to facilitate its better growth. He said that development of real estate
sector would create plenty of new jobs, reduce unemployment & poverty and
help the economy to accelerate its growth. He emphasized that government
should create conducive environment for real estate sector that would
contribute positively in turning around the economy as well.

Speaking at the occasion, Sardar Tahir Mehmood, President, Federation of
Realtors Pakistan said that priority focus on housing sector would steer the
economy out of current challenges. He said that they were giving budget
proposals of real estate sector to the government that would help broaden the
tax base and reduce deficit. He said that Federation of Realtors Pakistan would
be reorganized across the country in consultation with stakeholders. He urged
that government should focus on skills development of youth, good governance
and inclusion of middle class in the growth process. He said that for sustainable
development of the economy, it was necessary that government should bring
reforms in agriculture sector and set limits to holding of properties in cities. He
reaffirmed that efforts would be made to resolve the key issues of realtors in
collaboration with ICCI.