WNAM REPORT: Chairman Foreign Delegation Committee of the Islamabad Estate Agents Association, Chaudhry Mazhar, has termed the Federal Constitutional Court’s decision to abolish Section 7E of the Income Tax Ordinance as a welcome and historic step for the real estate sector. He said that this measure would promote investment and business activities in the property market.
He stated that the real estate sector is a key pillar of Pakistan’s economy, and by providing facilities and incentives to this industry, the government can create new employment opportunities and ensure economic stability. He added that after the implementation of Section 7E, the real estate sector came under severe pressure, resulting in a significant decline in buying and selling activities and creating uncertainty among investors.
Chaudhry Mazhar urged the government to provide further relief to the real estate sector in the upcoming budget, including reductions in taxes such as 236C and 236K. He also called for the introduction of investor-friendly and business-friendly policies to encourage greater investment in the sector.
