ISLAMABAD: Islamabad Chamber of Small Traders on Saturday made a plea to reconsider additional taxes on cement and steel industry in the recent budget as it will increase the cost of developmental projects.
The construction industry continue to grow on the back of increased infrastructure activities, rising demand of houses and economic recovery while decreased interest rates as well as reduced oil and coal prices also favored this multi-billion dollar sector providing jobs to millions of people, it said in a statement issued here.
However, the recent budget has not gone down well with the construction sector, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that the share of this sector reached an all-time high of Rs 287,569 million in 2016 which was as low as Rs 186,380 million in 2006 but now it can slide.
Shahid Rasheed Butt said that the stakeholders in the thriving real-estate market are also weary of the new measures taken in the budget.
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