SUKKUR, Jan 25 (APP):The Sukkur Chamber of Commerce and Industry (SCCI) has thrown its weight behind proposals aimed at reviving the housing sector.
Muhammad Khalid Kakazai, President of SCCI, Abdul Wahab Memon, Convener of the Builders and Developers Committee, and other senior members on Saturday have urged to formulate policies to promote the construction sector’s growth.
They said that the housing sector has been in crisis for several years, affecting 72 industries linked to it. The SCCI leaders believe that reviving the sector will create job opportunities, boost economic growth, and promote economic development, they added.
The government has been asked to reduce the withholding tax on property transactions to 1% and exempt first-time property buyers from taxes. Additionally, the government should abolish the 3% federal excise duty and provide loans at lower interest rates, they said.
The SCCI has also called for private banks to invest heavily in the construction sector.
The Sukkur Chamber of Commerce and Industry, established in 1962, is dedicated to fostering economic growth, promoting entrepreneurship, and facilitating trade in Sukkur and its surrounding regions.
