Zubair Qureshi Islamabad
Federation of Retailers of Pakistan (FRP) has rejected the taxes slapped on the real state, builders and investors in the budget for fiscal 2022-23 and termed them as disastrous for national economy.
Chairman of the FRO Musarrat Ijaz Khan in a statement on Thursday said when COVID-19 had put the entire global economy on the verge of disaster and it seemed that Pakistan would also fall victim to economic annihilation the previous government facilitated the business of real estate and builders.
This led to recovery of economy.
Record influx of foreign exchange from abroad to Pakistan was recorded, he said adding those who had kept money in their homes also invested it in real estate.
This way the national economy was gaining strength but the present government intended to impose relentless taxes on this sector without making installations the stake holders.
We all who are affiliated with the real estate business reject these taxes and demand of the government not to get approve these taxes from national assembly budget session, said Musarrat Ijaz Khan.
