Builders, developers propose measures for increased tax collection

ISLAMABAD: A six-member delegation of the Association of Builders and Developers (ABAD) met Advisor to Prime Minister on Finance and Revenues Dr Abdul Hafeez Sheikh to deliberate on different aspects of the real estate and construction sectors.

The delegation, headed by Hassan Bakhshi, discussed several proposals to make the market more conducive for property business and ensure increased tax collection for the government.

Taxation rates on property, building height restrictions in Karachi and rationalisation of property valuation tables were the highlights of the meeting, with the ABAD representatives emphasising the need to create a conducive environment for real estate business to flourish, thereby enhancing the economic conditions of the country.

Sheikh responded with assurances of maximum support for the sector while simultaneously ensuring that the principles of equity, transparency and fair play are not compromised.

The Advisor then asked the delegation to fine-tune their proposals and schedule a follow-up in the second week of January.

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