ICCI hails PM package for real estate sector

• Tahir Abbasi said due to Covid-19 pandemic, business activities of almost all sectors had come to a halt due to which large number of daily wagers and other workers had become unemployed.
• He said at these difficult times, announcing a relief package for construction industry was a highly welcome decision as it would provide jobs to a lot of jobless workers, boost business activities.
• Tahir Abbasi said 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.

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice President Tahir Abbasi Thursday said Prime Minister Imran Khan had 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 Traders Action Committee Secretary Khalid Mehmood Chaudhry. Muhammad Aslam Khokhar, Yasir Jameel, Ikram Abbasi and others were in the delegation.

Tahir Abbasi said due to Covid-19 pandemic, business activities of almost all sectors had come to a halt due to which large number of daily wagers and other workers had become unemployed.

He said at these difficult times, announcing a relief package for construction industry was a highly welcome decision as it would provide jobs to a lot of jobless workers, boost business activities and yield beneficial results for the dwindling economy.

ICCI senior vice president said attractive incentives had been given to investors for investing in construction projects under Naya Pakistan Housing Authority that would accelerate the pace of construction works under this programme.

He said steel and cement were integral part of the construction industry and urged that the government should also lift withholding taxes from these two sectors as it had 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 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 setting up Construction Industry Development Board would pave the way for better growth of construction industry.

He hoped that PM’s relief package for construction industry would revive the stalled business activities in the country and reduce poverty as well.