ISLAMABAD 9 WNAM REPORT): Special Assistant to the President of ICCI, Chaudhry Mazhar, has termed the consensus reached between stakeholders and the Federal Board of Revenue (FBR) on the property valuation table as a welcome development, stating that this step will play an important role in restoring confidence and promoting investment in the real estate sector. He said that a valuation table finalized through mutual consultation would be much closer to ground realities.
He noted that in the past, unrealistic property valuation rates and frequent changes created an atmosphere of uncertainty in the market, which directly affected investment. However, the consultative process between the FBR and stakeholders now represents a positive development that will bring stability to the real estate sector.
Chaudhry Mazhar further stated that the real estate sector is an important component of the national economy, and policy stability in this sector can lead to increased employment opportunities and enhanced economic activity.
