ICCI welcomes incentive package for real estate sector
ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has welcomed the incentivized package for construction sector by Prime Minister Imran Khan in addition to giving it an industry status and resuming its activities from 14th April 2020 as it would boost business and economic activities in the country and reduce unemployment.
Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said imposition of heavy taxes on real estate sector had badly affected its business activities and hoped that the relief package would give boost to construction projects in the country.
He said the growth of around 65-70 allied was linked with construction industry and added that providing tax relief and introducing fixed tax system in this sector would accelerate the business activities of all related industries in the construction field. The ICCI president said due to tax issues and other problems, a lot of money had flied out of construction sector. However, he said under the relief package, the advantage of not asking about source of income from those would invest this year in this sector would bring back a great amount of capital and help in uplifting the economy. - APP