KARACHI: Standing Committee on Finance and Economic Affairs Chairman Qaiser Ahmed Shaikh has formed a four-member sub-committee to resolve the problems faced by the real estate industry.
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He issued this directive at a meeting of the standing committee with a delegation of Pakistan Real Estate Industry Forum (PREIF) in Islamabad, said a press release. It said the sub-committee would formulate suggestions and present them in the next meeting.
PREIF President Shubban Illahi told the meeting that the real estate industry needed a bailout package on the pattern of the package given to the stock exchange in 2012. He told the committee about the problems relating to taxation on real estate industry.
Rasheed Godil, a member of the standing committee, said every citizen needs to pay his/her taxes. However, he said that it is the responsibility of the authorities concerned to remove the reservations of the stakeholders of the industry. The delegation included builders, estate agents and investors.
