ISLAMABAD: In a meeting held with the delegation of Islamabad Estate Agents Association (IEAA), led by its President Sardar Tahir, Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ahmed Waheed urged the government to create a productive business environment for the real estate sector by rationalising the taxes.
He highlighted the fundamental role the real estate sector plays that would promote business activities, create employment opportunities and attract foreign investment.
Rationalising taxes would ensure an enabling environment for the growth of all ancillary industries including cement, steel, brick, timber and building material, etc.
Assuring support to IEAA, ICCI announced to get a stay order from Islamabad High Court against the 300% hike in property tax by the Metropolitan Corporation Islamabad (MCI). As a result, the property tax will be deposited at the old rates until the court passes a decision.
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