The property dealers on Thursday staged a protest demonstration against the federal government over imposition of heavy taxation on transfer of land.  Hundreds of protesters, representing different dealers and property agents association of the city, launched a protest rally from Gujjar Pura which concluded on The Mall. Different associations including Gujjar Pura Real Estate Agents Association, Johar Town Property Dealers Association, EME Colony Property Dealers Association, Bahria Town All Property Dealers Association, Raiwind Road and Mohlanwal Property Dealers Association participated in the protest and warned that their protest will continue till the acceptance of demands. The protesters chanted slogans against the government, finance minister and Federal Board of Revenue.  Addressing the protest, the speakers said that the government should withdraw heavy taxes imposed on the real estate after July 01, 2016 and tax slab should be restored at the level of 30th June that would help revival of this vibrant sector.  They demanded that federal government and provinces should collect tax at same valuation table and Federal Board of Revenue should adopt DC rate with an increase of 10 percent, they demanded.–Staff Reporter

The speakers said that real estate is a dynamic sector and has the ability to attract huge foreign investment but because of adverse policies and heavy taxation, it is facing catastrophe-like circumstances and struggling for survival.