HYDERABAD: The traders have appealed to the federal government to review the property valuation fixed by the Federal Board of Revenue in order to save the real estate business.
According to a press release issued here, talking to a delegation of the builders at his office, Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Muhammad Akram Ansari said that as a result of high rate, which fixed by FBR in Hyderabad, the basic need of residential unit would become beyond the reach of common people.
The delegation informed the HCSTSI president that as a result of fixation of high rate plots, constructed buildings and commercial plots, the business of builders is not only near to close, but is also badly affected the business of sanitary items, wooden and aluminium crafts, steel, cement and bricks.
The HCSTSI president was informed that due to stoppage of construction work, the labour community is also unable to get livelihoods and also the government could face minimum recovery of taxes.
Akram, while expressing concern over the situation, appealed to the government to review the property valuation of FBR and provide relief to real estate sector.
