Islamabad: Muhammad Ahsan Malik, general secretary, Real Estate Consultants Association, DHA has stated that Real Estate Industry has capacity and courage to get rid of country out of current crisis.In a statement issued to Prime Minister Imran Khan, he stated that sitting government has taken number of decisions in the recently presented budget that were harmful for the Estate industry business. “If such decisions implemented that could be proven as financial murder for entire nation” he added.
Muhammad Ahsan Malik stated that current Real Estate Industry was running almost fifty other industries along with it.
Responding on government scheme of building five million houses, he stated that Prime Minister Imran Khan’s dream of 5 million houses would be impossible in current budget. He stated that hike of cement, iron and marble would definitely hit country construction and building department.
Moreover, he urged that government should remove withholding tax on the cash withdrawals of Real Estate Consultants. Real Estate services charges should make 2% and give it legal protection as well. He said Overseas Pakistanis should be considered as filers because they were filing returns in their host countries.
He said government should legalize 2 percent service charges of Real Estate Consultants as they were paying services tax in addition to income tax and it was difficult to determine services tax without giving legal cover to 2 percent service charges.