Islamabad, April 9,2026: President Islamabad Chamber of Commerce and Industry, Sardar Tahir Mehmood, has expressed profound gratitude to Prime Minister Mian Shehbaz Sharif, Interior Minister Mohsin Naqvi, and Chairman Capital Development Authority Lt. (R) Sohail Ashraf for their timely and business-friendly decision to reduce the property transfer fee from 3% to 1%.
In a statement issued here on Thursday, Sardar Tahir Mehmood termed the decision a landmark step towards revitalizing economic activity in the federal capital. He emphasized that the reduction would provide a significant boost to the real estate and construction sectors—two critical drivers of economic growth, employment generation, and allied industries.
The ICCI President highlighted that this achievement reflects the consistent efforts and constructive engagement of the Islamabad Chamber of Commerce and Industry, in close coordination with the broader business community. “This is not just a policy change; it is the collective success of the entire real estate sector, which has long advocated for rationalization of taxes and charges to promote ease of doing business,” he remarked.
He further noted that the move would help stabilize the property market, enhance investor confidence, and encourage both local and overseas Pakistanis to channel their investments into Islamabad’s real estate sector. “Lower transaction costs will stimulate market activity, improve documentation, and ultimately contribute to sustainable economic growth,” he added.
Sardar Tahir Mehmood also called for a reduction in Floor Area Ratio (FAR) charges for commercial buildings, aligning them with the incentives already provided to the motel and hotel industry. He stressed that such reforms are essential to unlock the true investment potential of Islamabad.
“By rationalizing FAR charges and ensuring a business-friendly regulatory framework, Islamabad can be transformed into a leading regional and indeed global business hub,” he stated. He further emphasized that enabling policies would attract greater foreign direct investment, foster urban development, and position the capital as a competitive destination for international business.
Reaffirming ICCI’s commitment, the President assured that the Chamber will continue to work closely with government institutions to advocate for progressive economic policies that support business growth, investment facilitation, and national prosperity.
