The Chairman Federation of Realtors Pakistan Ejaz Khan has claimed that implementation of new taxes on real estate will be devastating for the sector and its stakeholders. Speaking to the media in Karachi, Ejaz Khan said that the government has still not given the half tax refund as committed in 2016 and 25% additional expected tax will be an injustice.
He further said that the real estate sector in Pakistan is already going through a rough phase and the increasing transfer fees will only harm the confidence and morale of the investors. “The government needs to come up with policies that are beneficial for the sector as well as the country.” “It is one of the most contributing sectors of the country and mostly neglected due to lack of interest of the state”, said Ejaz Khan.
Ejaz Khan was sharing his views over the expected mini budget as per speculations.