Despite the State Bank of Pakistan reducing the interest rate from 22 per cent to 17.5 per cent over the past three to four months, the real-estate sector has not yet accelerated. Given that further cuts in the policy rate might be around the corner, a suitable reduction in the applicable taxes might help kick-start the real-estate sector.
Real estate is a key part of our economy, employing millions of people, but it is currently stagnant. The incumbent government needs to help this vital sector’s contribution to the economy match its potential.
Mumraiz Khan
Karachi