Four-member Committee Formed To Address Real Estate Industry's Problems

KARACHI, (UrduPoint / Pakistan Point News - 03rd Nov, 2016 ) : The Chairman of the Standing Committee of the National Assembly on Finance and Economic Affairs, Qaiser Ahmed Shaikh, has formed a four-member sub-committee to resolve the problems faced by the real estate industry.

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 issued here on Thursday. 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 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. They included Ghazanfar Mahboob, Javed Rahman, Maj (retd) Naveed Ahmed Bajwa, Asghar Ali Bhutto, Ghulam Hadi Lakho, Abdul Qadir, Abdul Wahid, Khurram Majeed, Hassan Bisharat, Imran Illahi and others.

Major (retd) Rafiq Hasrat from Lahore and Colonel (retd) Asif Kiyani from Rawalpindi. FPCCI president Abdul Rauf Aalam and ABAD ex-vice president Arif Jeeva also attended the meeting.