ISLAMABAD: A delegation of the Constructors association of Pakistan (CAP) led via its Chairman Engr. Syed Ashfaq Hussain visited the Islamabad Chamber of trade and industry (ICCI) and highlighted the problem of excessive taxes on the development enterprise due to which this industry is going through a whole lot of troubles in selling construction Sports. Engr. Sikandar Hayat Khattak former Chairman CAP, Malik Muhammad Azim Member Advisory Council, and others were within the delegation.
Addressing the delegation, Engr. Azhar ul Islam Zafar, appearing President, Islamabad Chamber of trade and enterprise stated that the construction industry plays a key role in the economic development of the united states of america because the business sports of round 70 allied industries are associated with the development sector.
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But, the imposition of high taxes on this industry has badly affected its boom, discouraged new funding, and caused a slowdown within the normal financial system. He said that the cut in taxes on this enterprise can appeal to investment of billions of greenbacks to the USA and pressured that the government should rationalize taxes in this region in consultation with stakeholders, withdraw tax on deemed earnings on immovable property, and create a conducive surroundings to spur the economic boom of the US speakme on the occasion, Engr. Syed Ashfaq Hussain, Chairman, Constructors affiliation of Pakistan said that many overseas Pakistanis are interested in investing within the creation sector, however heavy taxes are discouraging them. He emphasised that the government need to rethink taxes on this zone and provide greater attractive incentives to this enterprise to enhance overseas investment in the united states. He stated that the government can take the USA’s financial system from recession to sustainable improvement with the aid of focusing at the actual property and construction area.
Engr. Sikandar Hayat Khattak former Chairman CAP, Malik Muhammad Azim Member Advisory Council, and other contributors of the delegation also spoke at the occasion and underscored the want to lessen taxes on the construction industry to revive the economy.
