{"id":102009,"date":"2025-04-22T13:52:13","date_gmt":"2025-04-22T08:52:13","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=102009"},"modified":"2025-04-22T13:52:17","modified_gmt":"2025-04-22T08:52:17","slug":"abad-praises-govt-for-scrapping-fed","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/abad-praises-govt-for-scrapping-fed.html","title":{"rendered":"ABAD praises govt for scrapping FED, urges more tax reforms"},"content":{"rendered":"\n<p>Karachi: The federal government\u2019s decision to abolish Federal Excise Duty (FED) on the sale and purchase of property has been met with appreciation from the construction sector, with the Association of Builders and Developers of Pakistan (ABAD) calling it a step in the right direction.<\/p>\n\n\n\n<p>ABAD Chairman Hasan Bakshi lauded the move, stating that the removal of FED would reinvigorate the construction industry and create much-needed employment opportunities. He also urged the government to consider additional tax reforms to sustain momentum in the real estate and construction sectors.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-seeks-tax-relief-for-real-estate-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR seeks IMF approval for tax relief on real estate &amp; other sectors<\/a><\/p>\n\n\n\n<p>Specifically, Bakshi called for reductions in taxes imposed under Sections 236C and 236K of the Income Tax Ordinance, 2001, which deal with advance tax on the sale and purchase of property. He also proposed easing Section 7E, which has imposed significant tax burdens on property ownership.<\/p>\n\n\n\n<p>He emphasized that while the scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the construction sector. \u201cThe construction industry is one of the key drivers of job creation. If supported with progressive tax reforms, it can play a transformative role in Pakistan\u2019s economic revival,\u201d he said.<\/p>\n\n\n\n<p>Bakshi also referenced the recommendations put forth by the government\u2019s economic task force, describing them as crucial for long-term investment stability. He noted that consistent and competitive tax policies are essential for Pakistan to attract sustained investment in a regionally competitive market.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/major-tax-cuts-expected-to-boost-property-market.html\" target=\"_blank\" rel=\"noreferrer noopener\">Property tax reduction expected to boost real estate market: Sheikhani<\/a><\/p>\n\n\n\n<p>The announcement comes amid ongoing federal budget preparations for FY2025-26, where the government is also reportedly exploring tax relief measures for the salaried class. However, such relief may be subject to approval from the International Monetary Fund (IMF).<\/p>\n\n\n\n<p>The construction sector, a significant contributor to GDP, has long demanded reforms to reduce the tax burden and stimulate activity. The removal of FED is seen as a major win for developers, but stakeholders like ABAD continue to push for a more comprehensive reform agenda.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The federal government\u2019s decision to abolish Federal Excise Duty (FED) on the sale and purchase of property has been met with appreciation from the construction sector, with the Association of Builders and Developers of Pakistan (ABAD) calling it a step in the right direction. ABAD Chairman Hasan Bakshi lauded the move, stating that the removal of FED would reinvigorate the construction industry and create much-needed employment opportunities. He also urged the government to consider additional tax reforms to sustain momentum in the real estate and construction sectors. Read: FBR seeks IMF approval for tax relief on real estate &amp; other sectors Specifically, Bakshi called for reductions in taxes imposed under Sections 236C and 236K of the Income Tax Ordinance, 2001, which deal with advance tax on the sale and purchase of property. He also proposed easing Section 7E, which has imposed significant tax burdens on property ownership. He emphasized that while the scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the construction sector. \u201cThe construction industry is one of the key drivers of job creation. If supported with progressive tax reforms, it can play a transformative role in&hellip;<\/p>\n","protected":false},"author":18,"featured_media":78380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[5726,27497,7498,64060,64059,64064,64057,17738,1777,1302,64062,61709,61708,57341,64061],"persona":[],"class_list":{"0":"post-102009","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-abad","9":"tag-construction-industry","10":"tag-economic-growth","11":"tag-fed-abolished","12":"tag-hasan-bakshi","13":"tag-imf-and-pakistan","14":"tag-pakistan-budget-fy2025-26","15":"tag-property-market","16":"tag-real-estate-investment","17":"tag-real-estate-sector","18":"tag-real-estate-tax-reform","19":"tag-section-236c","20":"tag-section-236k","21":"tag-section-7e","22":"tag-tax-relief-pakistan","23":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ABAD praises govt for scrapping FED- Zameen News<\/title>\n<meta name=\"description\" content=\"The scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/abad-praises-govt-for-scrapping-fed.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABAD praises govt for scrapping FED- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/abad-praises-govt-for-scrapping-fed.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-22T08:52:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-22T08:52:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/08\/ABAD-News-Cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samra Zulfiqar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samra Zulfiqar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ABAD praises govt for scrapping FED- Zameen News","description":"The scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/abad-praises-govt-for-scrapping-fed.html","og_locale":"en_US","og_type":"article","og_title":"ABAD praises govt for scrapping FED- Zameen News","og_description":"The scrapping of FED is a positive development, broader policy measures are required to unlock the full economic potential of the...","og_url":"https:\/\/www.zameen.com\/news\/abad-praises-govt-for-scrapping-fed.html","og_site_name":"Pakistan Real Estate News &amp; 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