ICCI President Calls for Smart Reforms to Unlock Real Estate Potential and Attract Investment

WNAM REPORT: President Islamabad Chamber of Commerce and Industry and Member of the Prime Minister’s Task Force on Housing Development, Sardar Tahir Mehmood, has called for immediate and practical reforms to revitalize Pakistan’s real estate and construction sector, terming it a key driver of economic growth and investment.
In a statement issued here on Monday, he observed that shifting global dynamics, particularly in the Middle East, are reshaping investment patterns, creating a timely opportunity for Pakistan to attract both local and overseas capital. “Pakistan possesses immense potential. What is required now is policy clarity and a system that inspires confidence among investors,” he stated.
Sardar Tahir Mehmood clarified that the business community is not seeking any relaxation of laws or undue facilitation. “Our stance is clear. We are not asking for laws to be bypassed. We are calling for an efficient, transparent, and time-bound system that operates strictly within the legal framework,” he said, adding that delays and procedural complexities are discouraging genuine investors and developers, whereas a predictable system would naturally promote compliance and documentation.
He emphasized that reforms should focus on establishing a single-window system to reduce unnecessary delays, ensuring time-bound approvals with clearly defined timelines, digitizing processes to enhance transparency, and implementing uniform procedures for all stakeholders. On taxation, he stressed the need to rationalize transaction-related taxes and eliminate overlapping measures that are negatively affecting market activity.
He further highlighted the importance of fast-tracking key legislations, including the Real Estate Regulatory Authority (RERA), foreclosure laws, and condominium frameworks to strengthen investor confidence and provide legal clarity to stakeholders.
Sardar Tahir Mehmood noted that overseas Pakistanis represent a major untapped source of investment, stating that they are willing to invest but require trust in the system. “If we provide a simple, transparent, and predictable framework, overseas investment can increase significantly, enabling reverse capital flow into Pakistan,” he remarked.
He reiterated that the real estate and construction sector is closely linked with multiple industries and plays a vital role in job creation and economic expansion. “When this sector moves, the economy moves,” he added.
Calling for collective efforts, he urged government institutions, regulators, and the private sector to work in close coordination to implement these reforms effectively. “Pakistan does not need deregulation; it needs smart regulation, a system that is firm, transparent, and efficient,” he concluded.