Islamabad, January 29, 2026: Sardar Tahir Mehmood, President of the Islamabad Chamber of Commerce and Industry (ICCI), has called on Prime Minister Mian Muhammad Shehbaz Sharif to convene a National Real Estate Conference/Convention to address structural, regulatory, and investment-related challenges facing the sector, which he described as a critical driver of economic growth and employment.
Speaking at a well-attended press conference at ICCI on Thursday, Sardar Tahir Mehmood said the business community fully supports the Prime Minister’s vision for export-led growth and the attraction of foreign investment, particularly under the national initiative “Uraan Pakistan.” However, he warned that rising costs of doing business, excessive taxation, high interest rates, and expensive energy tariffs are severely undermining Pakistan’s competitiveness and investor confidence.
He highlighted that the real estate sector, despite being a major contributor to economic activity and employment, faces mounting regulatory pressures due to overlapping jurisdictions of multiple government departments. This, he said, creates delays, uncertainty, and excessive compliance requirements, pushing both local and foreign investors to redirect capital to more business-friendly markets, such as Dubai.
The ICCI president emphasized that real estate has a strong multiplier effect, supporting 60 to 70 allied industries, including cement, steel, construction materials, transport, financial services, engineering, and skilled labor. He stressed that international experience shows a well-regulated and vibrant real estate sector forms the backbone of sustainable economic growth.
Sardar Tahir Mehmood further pointed out that regionally uncompetitive energy tariffs, high taxation, and elevated interest rates are major impediments to business operations. He urged that discretionary powers be curtailed and approvals granted within defined timelines to attract meaningful domestic and foreign investment.
Ahead of the Federal Budget 2026–27, he called on the government to avoid anti-business or revenue-centric taxation measures, advocating instead for a pro-business, investment-friendly, and growth-oriented fiscal framework. He also emphasized the importance of meaningful consultation with Chambers of Commerce and Industry before finalizing economic policies and budgetary decisions.
Concluding his remarks, Sardar Tahir Mehmood reaffirmed ICCI’s commitment to act as a bridge between the government and the private sector, noting that timely policy support and structural reforms would strengthen investor confidence, enhance exports, create jobs, and put Pakistan on a sustainable path of economic growth.
The press conference was attended by Sheikh Tariq Sadiq, Chairman ICCI Founder Group; Senior Vice President Tahir Ayub; Vice President Irfan Chaudhry; executive members, and representatives from diverse business sectors.
