He was addressing a delegation of Real Estate Consultants Association DHA Islamabad, which had called on ICCI to apprise officials of the problems being faced by the real estate sector. He urged the government to cut heavy taxes on this sector in the coming budget for its revival. The real estate sector plays an important role in the economic development of any country, but heavy taxes on this sector in Pakistan have damaged its growth, said Association of Builders and Developers (ABAD) Chairman Arif Jeewa. Thrown out on the street: Forced evictions from shops make traders feel insecureHe said that many investors were now leaving the real estate sector. Also speaking on the occasion, Real Estate Consultants Association DHA Islamabad President Munawar Heral said that since July 2016, the government has increased 100% taxes on the real estate sector that caused 50% to 60% reduction in its business activities.

Source: The Express Tribune February 24, 2018 04:52 UTC