Sukkur Chamber of Commerce and Industry Welcomes Revitalized Property Sector in Federal Budget 2025-26

Strategic Insights -

The government's focus on revitalizing the property sector through tax reductions has been welcomed by Bilal Waqar Khan, former President of the Sukkur Chamber of Commerce and Industry (SCCI). Khan expressed optimism that these incentives would encourage overseas Pakistanis to invest in the country's real estate market, citing the removal of Federal Excise Duty on commercial property and reduction in income tax rates for salaried individuals as significant steps. He praised the budget presented by Finance Minister Mian Aurangzeb as a people-friendly initiative that would support economic growth, highlighting its people-centric and pro-development nature.

Key Takeaways:

  • The Sukkur Chamber of Commerce and Industry (SCCI) has welcomed the government's focus on revitalizing the property sector in the federal budget 2025-26.
  • Bilal Waqar Khan, former President of SCCI, expressed optimism that tax reductions would encourage overseas Pakistanis to invest in the country's real estate market.
  • The removal of Federal Excise Duty on commercial property and reduction in income tax rates for salaried individuals were highlighted as significant steps towards revitalizing the property sector.
  • Khan praised the budget, presented by Finance Minister Mian Aurangzeb, as a people-friendly initiative that would support economic growth.
  • The budget's people-centric and pro-development nature was commended, with Khan saying it would lead to overall betterment for the people.
  • Khan appreciated the steps taken for pensioners and the revision of tax slabs, which would provide much-needed relief to the salaried class.
  • The 20% increase in the defence budget was welcomed, with Khan terming it a necessary move considering the country's security needs.
  • Freelancers were included in the economic framework, with Khan noting that this step would generate valuable foreign revenue for the country.
  • Khan concluded that the government had taken positive decisions and announced various programs for the uplift of economic and social sectors of the country.
  • He appreciated the reduction in taxes and levies, saying it was a good effort to flourish business activities in the country.

Statistics:

  • 20% increase in the defence budget
  • Removal of Federal Excise Duty on commercial property
  • Reduction in income tax rates for salaried individuals
  • Inclusion of freelancers in the economic framework
  • Revision of tax slabs for pensioners and the salaried class

Sources:

  • "Sukkur -- Bilal Waqar Khan, former President of the Sukkur Chamber of Commerce and Industry (SCCI)" by [No source reference provided]