The Association of Builders and Developers of Pakistan (ABAD) met with the Finance Minister to present their proposals for the upcoming budget, as well as to urge the minister to introduce measures to get rid of cartels and to attract foreign investment. The ABAD called for the removal of regulatory duty on iron and tiles, which should lead to a decrease in steel and tile prices. The association also pointed out the issue of cartelisation in the cement, iron, and tiles industries. The Finance Minister promised to fill the vacant positions in the Competition Commission of Pakistan to address these complaints and other matters, and to consider proposals for an incentive for overseas Pakistanis to invest in the realty sector. The ABAD also suggested that 25% of every real estate sector should be allocated for overseas Pakistanis.

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By hassani

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