WNAM REPORT: A delegation of the Islamabad Chamber of Commerce and Industry (ICCI), led by President Sardar Tahir Mehmood, held a meeting with Chairman Capital Development Authority (CDA)/Chief Commissioner Islamabad Lt. (Retd.) Sohail Ashraf here on Monday and discussed a range of long-standing issues confronting the business community, particularly those affecting construction, real estate, investment and ease of doing business in the federal capital.
During the meeting, the Chairman CDA assured the ICCI delegation that the long-standing issue of Floor Area Ratio (FAR) charges would be placed before the CDA Board meeting scheduled for Tuesday, with a view to providing maximum possible relief to the business community. He said the concerns raised by ICCI would be considered on priority and appropriate decisions would be taken to facilitate investors, builders and property owners.
A major development discussed during the meeting was the requirement of parking space. The Chairman CDA agreed in principle to increase the permissible parking area from 750 square feet to 1,000 square feet. He further clarified that although the revised provision had already received approval, it had not been given retrospective effect for plots allotted earlier. The matter will also be placed before the CDA Board for consideration so that the facility can benefit eligible projects whose drawings are submitted under the applicable regulations.
The meeting also produced significant progress on the issue of inheritance transfers. The Chairman CDA assured the delegation that the existing 0.25 percent fee calculated on the FBR value of property for legal inheritance transfer within the family would be abolished, subject to approval by the CDA Board. The move would provide considerable relief to families and property owners and simplify the transfer of inherited properties to legal heirs, particularly children.
Similarly, the Chairman agreed to consider the abolition of the 0.25 percent fee on General Power of Attorney (GPA) transactions within blood relations. The proposal is aimed at reducing unnecessary financial burdens on families and simplifying property-related procedures. The Chairman assured the ICCI delegation that formal approval for these measures would be sought from the CDA Board in its meeting on Tuesday.
President ICCI Sardar Tahir Mehmood appreciated the Chairman CDA’s positive response and emphasized that the business community expects practical reforms that can reduce the cost of doing business, remove unnecessary regulatory hurdles and encourage investment in Islamabad. He said that an efficient and business-friendly regulatory framework is essential for promoting construction activity, real estate investment, commercial development and employment generation.
Sardar Tahir Mehmood said the private sector is ready to play its role in strengthening the economy, but government institutions must ensure predictable policies, simplified procedures and reasonable charges. He stressed that resolving CDA-related issues would not only facilitate businesses but also accelerate economic activity and increase government revenues in the long run.
The Chairman CDA further assured that the ICCI delegation would be welcomed again on Tuesday, under the leadership of President Sardar Tahir Mehmood, to discuss the outcome of the CDA Board meeting and pursue the implementation of the proposed relief measures.
The ICCI delegation included Mohammad Israr Mishwani, Chairman ICCI Standing Committee on Real Estate, along with other senior members.
