WNAM REPORT: Chairman of the Foreign Delegation Committee, Islamabad Estate Agents Association, Chaudhry Mazhar, has said that eliminating bureaucratic red tape is essential to promote investment. He warned that the oppressive decision of the CDA Chairman has once again created the risk of stagnation in the market.
He added that the Prime Minister of Pakistan and his team had provided relief to the vital real estate sector in the national budget to revive market activity, attract returning buyers, and encourage new ones. Around the world, governments support the economy by providing relief and incentives to the construction sector, which in turn boosts allied industries and reduces unemployment. Unfortunately, before the ink on the Prime Minister’s relief measures had even dried, the CDA Chairman increased property transfer fees nullifying the relief provided and reviving the stagnation that had begun to fade from the market.
