ISLAMABAD, APR 30: /DNA/ – The leadership of  Islamabad Chamber of Commerce and Industry (ICCI) has expressed strong appreciation for Prime Minister Shehbaz Sharif on the launch of the “Apna Ghar Scheme (Ghar Ho Tu Apna),” terming it a highly commendable initiative to promote affordable housing and uplift the construction and real estate sectors.

ICCI President Sardar Tahir Mehmood, who is currently in China to promote bilateral business ties, said in a message that the scheme reflects the government’s firm commitment to facilitating home ownership for the common citizen while stimulating economic activity across multiple allied industries. He emphasized that such forward-looking initiatives would not only encourage investment in the real estate sector but also generate employment opportunities and strengthen the overall economy.

A delegation of ICCI attended a significant ceremony held at the Prime Minister House, comprising acting President Tahir Ayub, Vice President Irfan Chaudhry, Executive Member Zulqarnain Abbasi, and Chairman Real Estate Committee and Secretary Information IEAA Israr ul Haq Mashwani.

Prior to the ceremony, the delegation held a meeting with the Prime Minister in continuation of earlier engagements under the Prime Minister’s Task Force on Housing. It is pertinent to mention that ICCI President Sardar Tahir Mehmood is also a member of the Prime Minister’s Task Force and has been actively contributing to policy discussions aimed at addressing key challenges faced by the real estate sector. Under his leadership and vision, ICCI has consistently highlighted critical issues and proposed practical solutions to ensure sustainable sectoral growth, especially the FAR charges which have halted the construction in capital and caused revenue loss for the CDA while discouraging transformation and reshaping vertical developments and the city’s skyline.

During the meeting, Acting President Tahir Ayub raised key concerns including the Floor Area Ratio (FAR) in Islamabad and taxation issues, particularly under Section 7E. The Prime Minister assured the delegation that the government is considering abolishing the tax under Section 7E in the upcoming budget, along with providing relief in other taxes, especially Sections 236K and 236C.

In his message Sardar Tahir Mehmood termed these developments as highly encouraging for the business community and the real estate sector, expressing optimism that these measures would help restore investor confidence and accelerate economic activity.

He reiterated that ICCI will continue to extend full support to government initiatives aimed at promoting economic growth, investment, and housing development, while ensuring that the concerns of the business community are effectively addressed.