Ahsan Malik Claims Pakistan’s Real Estate Industry has “Capacity”

Muhammad Ahsan Malik, general secretary, Real Estate Consultants Association believes Real Estate Industry has potential to improve the country's economy

According to Baaghi TV’s reports, the Real Estate Industry has capacity and courage to rid the country out of its current crisis stated Muhammad Ahsan Malik, general secretary, Real Estate Consultants Association, DHA.

Sources claim, in a statement issued and passed on to to Prime Minister Imran Khan, Ahsan Malik has contented that the sitting government has taken a number of decisions in the recent budget that would prove harmful for the Estate industry business.

He stated that if such decisions were to be implemented, “it could be prove as financial murder for entire nation”.

Muhammad Ahsan Malik further explained that this point the Real Estate Industry is sustaining approximately fifty other industries with it.

Responding to queries concerning the government scheme of construction of five million houses, Malik stated that given the recently announced budget, Prime Minister Imran Khan’s dream of 5 million houses cannot be completed as it near to “impossible”. He also discussed the hike in prices of building materials such as cement, iron and marble, commenting that the increase in prices would effect construction and building department severely.

Moreover, he stressed the need for the Pakistan government to remove Witholding Tax (WHT) on the cash withdrawals of Real Estate Consultants. He elaborated that the real estate services charges should not be more than 2%. While speaking about Overseas Pakistanis, Malik stressed that they should be considered as filers because they are filing returns in their host countries.

 

Stay tuned to Baaghi TV for more updates.

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