Nowadays there is a lull in the real estate market, specifically in Karachi, and purchase of open plots as well as built-up properties have drastically declined. There are several reasons for the bearish behaviour of the real-estate sector, which has been one of the highest contributors to the national exchequer for many years.
The main culprit is the Finance Act 2022-2023, in which new taxes have been introduced. I request the government to withdraw these unfair taxes as soon as possible.
Mumraiz Khan
Karachi
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