AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

LAHORE: The Association of Builders and Developers of Pakistan (ABAD) presented a set of proposals for revival of housing sector and sought removal of 3 percent Federal Excise Duty (FED).

The Association also sought introduction of a 10-year fixed mortgage product linked to the 10-year PIB bond yield to enable affordable homeownership.

Chairman ABAD (North) SM Nabeel presented these proposals at the first meeting of the task force constituted by the federal government to address challenges in the sector and promote sustainable development.

SM Nabeel while talking to the Business Recorder on Saturday also expressed gratitude to Prime Minister Shehbaz Sharif, Federal Finance Minister Muhammad Aurangzeb, and Federal Minister for Housing Riaz Hussain Pirzada for taking significant steps toward revitalizing Pakistan’s housing sector.

He praised the Prime Minister’s leadership and the proactive efforts of his team in strengthening Pakistan’s economy. He noted the positive response from the Federal Finance Minister and the Housing Minister to ABAD’s proposals during the first meeting of the task force.

The ABAD presented a comprehensive proposal identifying critical issues in the real estate sector and recommending solutions to unlock its potential. Key proposals include a reduction of withholding tax to 1% on property transactions, with the first property purchase declared tax-free to promote homeownership.

While mentioning about the capital flight, he said, measures are required to retain investments within the country. He said the ABAD has also proposed the government to encourage banks to designate construction as a priority sector to stimulate economic growth.

Nabeel emphasized the importance of balanced policies, advocating for measures that penalize non-filers while encouraging investment in the real estate sector. He highlighted that fair policies could unlock a $100 billion investment potential, driving economic recovery and growth.

“Pakistan’s real estate sector has immense potential to contribute to economic development with the right support and policies,” Nabeel said. He expressed hope that the government would continue its collaboration with ABAD to foster an environment conducive to growth and investment in the housing sector.

The Chairman concluded by reaffirming ABAD’s commitment to working with the government to achieve sustainable development in Pakistan’s housing industry.

Copyright Business Recorder, 2025

Comments

Comments are closed.