General Secretary of Real Estate Consultants Association (RECA) Adil Nawaz Bhatti has said that 52 industries associated with the sector are suffering from continuous decline and lakhs of real estate agents associated with this sector are unable to run their businesses and real estate agents. A large number of them have been forced to close their offices. Adil Nawaz Bhatti said that the government should give incentives to the real estate sector so that their confidence is restored. They can play their role in improving the economic situation of the country by seeking more foreign exchange from local investors including overseas Pakistanis.
He said that hundreds of people are involved in this sector and the government is putting more taxes in this sector. Adil Nawaz Bhatti demanded the government to implement the Real Estate Regulatory Authority Act immediately. should be done and unfair taxes like 7e should be removed from this sector. This tax has caused irreparable damage to the country’s economy and especially to the real estate sector. If this tax is kept in place, the withdrawal of foreign exchange from Pakistan will continue and the pressure on the country’s economy will continue to increase.
