Islamabad, April 09, 2020 (PPI-OT): Tahir Abbasi, Senior Vice President, Islamabad Chamber of Commerce and Industry (ICCI) said that Prime Minister Imran Khan has met a longstanding demand of realtors by announcing a relief package for construction sector besides giving it industry status for which the community of realtors was thankful to him. He expressed these views while talking to a delegation that called on him led by Khalid Mehmood Chaudhry, Secretary, Traders Action Committee. Muhammad Aslam Khokhar, Yasir Jameel, Ikram Abbasi and others were in the delegation.
Tahir Abbasi said that due to Covid-19 pandemic, business activities of almost all sectors have come to a halt due to which large number of daily wagers and other workers have become unemployed. He said that at these difficult times, announcing a relief package for construction industry was a highly welcome decision as it would provide jobs to lot of jobless workers, boost business activities and yield beneficial results for the dwindling economy.
ICCI Senior Vice President said that attractive incentives have been given to investors for investing in construction projects under Naya Pakistan Housing Authority that would accelerate the pace of construction works under this program. He said that steel and cement were integral part of construction industry and urged that government should also lift withholding taxes from these two sectors as has been lifted for other sectors of this industry. It would bring down the cost of construction projects and ease the difficulties of people in building their own houses.
Tahir Abbasi said that business of over 40 allied industries was linked with construction industry and providing tax relief to it would give boost to all its related industries. He said that setting up Construction Industry Development Board would pave way for better growth of construction industry. He said that construction industry was playing key role in the economic development of country, but for the last few years, heavy taxes were imposed on real estate and construction sector in Pakistan that badly affected its business activities. He hoped that PM’s relief package for construction industry would revive the stalled business activities in the country and reduce poverty as well.
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Islamabad Chamber of Commerce and Industry (ICCI)
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