Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that real estate sector has the potential to drive the growth of economy and stressed that government should take policy measures to create conducive environment for it so that it could play more effective role in the economic development of the country. He was addressing a delegation of Islamabad Estate Agents Association (IEAA) that visited ICCI led by its President Sardar Tahir. Ch. Zahid Rafiq, Secretary General, Naveed Akhtar Vice President, Islamabad Estate Agents Association, Nadeem ud Din, Rana Arshad and other representatives of IEAA were also present at the occasion. Muhammad Ahmed Waheed said that real estate sector played vital role in promoting business activities, economic growth, employment generation and poverty reduction and urged that government should rationalize taxes on this sector for its better growth. He said that the growth of over 50 ancillary industries including cement, steel, brick, timber and building material was associated with real estate sector and creating an enabling environment for it would facilitate the growth of all allied industries. He informed the delegation that ICCI has got a stay order from Islamabad High Court against the 300 percent increase in property tax by MCI and said that business community could now deposit property tax on old rates till the court’s decision in this case. He assured the delegation that ICCI would fully cooperate with IEAA in its efforts for resolving the issues of real estate sector. Speaking at the occasion, Sardar Tahir, President, Islamabad Estate Agents Association highlighted the key issues of his sector. He said that IEAA in cooperation with ICCI had got approved the valuation rates of commercial property from the FBR and vowed that they would also resolve other major issues of this sector with the support of ICCI. He said that government should accord priority focus to promoting real estate sector and formulate conducive policies for it so that this sector could make useful contributions towards stabilizing the economy. He thanked ICCI for getting stay order from IHC against increase in property tax that provided good relief to propery holders. Tahir Abbasi Senior Vice President, Saif ur Rahman Khan Vice President ICCI, Khalid Iqbal Malik, Zafar Bakhtawari, Ch. Zahid Rafique General Secretary, Naveed Akhtar Vice President IEAA, Ch. Nadeem ud Din, Rana Arshad, Ashfaq Chatha, Khalid Chaudhry and others also spoke at the occasion and called upon the government to finalize fixed tax scheme for real estate sector in consultation with all stakeholders that should be acceptable for all.