The federal government has introduced a series of relief measures aimed at revitalizing Pakistan’s real estate sector, encouraging fresh investment, and improving market confidence. At the same time, officials have stressed the importance of shifting from rapid horizontal urban expansion toward sustainable vertical development.
Addressing a seminar hosted by the Lahore Chamber of Commerce and Industry (LCCI), Federal Parliamentary Secretary for Planning and Development Hafiz Mian Muhammad Nauman said the construction and real estate industries support nearly 70 allied sectors, making them key contributors to economic growth and job creation.
LCCI President Faheemur Rehman Saigol, who presided over the seminar, welcomed the government’s latest tax incentives for the property market. He highlighted the reduction in withholding tax on property purchases from 2.5% to 1.25%, the cut in withholding tax on property sales from 5.5% to 2.75%, and the removal of Section 7E as positive steps that could help restore investor confidence.
However, Saigol urged the government to extend the reduction in Federal Board of Revenue (FBR) property valuations beyond the currently covered areas to include additional housing societies and localities. He said applying the relief measures uniformly across the real estate sector would ensure fair treatment for all investors and property owners.
