Realtors thank PM for providing relief package to construction industry
- April 09, 2020
Tahir Abbasi, Senior Vice President, Islamabad Chamber of
Commerce & Industry (ICCI) said that Prime Minister Imran Khan has met a
longstanding demand of realtors by announcing a relief package for construction
sector besides giving it industry status for which the community of realtors was
thankful to him. He expressed these views while talking to a delegation that
called on him led by Khalid Mehmood Chaudhry, Secretary, Traders Action
Committee. Muhammad Aslam Khokhar, Yasir Jameel, Ikram Abbasi and others
were in the delegation.
Tahir Abbasi said that due to Covid-19 pandemic, business activities of almost all
sectors have come to a halt due to which large number of daily wagers and other
workers have become unemployed. He said that at these difficult times,
announcing a relief package for construction industry was a highly welcome
decision as it would provide jobs to lot of jobless workers, boost business
activities and yield beneficial results for the dwindling economy.
ICCI Senior Vice President said that attractive incentives have been given to
investors for investing in construction projects under Naya Pakistan Housing
Authority that would accelerate the pace of construction works under this
program. He said that steel and cement were integral part of construction
industry and urged that government should also lift withholding taxes from these
two sectors as has been lifted for other sectors of this industry. It would bring
down the cost of construction projects and ease the difficulties of people in
building their own houses.
Tahir Abbasi said that business of over 40 allied industries was linked with
construction industry and providing tax relief to it would give boost to all its
related industries. He said that setting up Construction Industry Development
Board would pave way for better growth of construction industry. He said that
construction industry was playing key role in the economic development of
country, but for the last few years, heavy taxes were imposed on real estate and
construction sector in Pakistan that badly affected its business activities. He
hoped that PM’s relief package for construction industry would revive the stalled
business activities in the country and reduce poverty as well.