BY: FT Correspondent:
ISLAMABAD — A delegation of the Islamabad Chamber of Commerce and Industry (ICCI), led by President Sardar Tahir Mehmood, met Chairman CDA and Chief Commissioner Islamabad Lt. (Retd.) Sohail Ashraf on Monday and discussed key issues facing the business community, particularly related to construction, real estate and investment.
The Chairman CDA assured the delegation that the issue of Floor Area Ratio (FAR) charges would be presented before the CDA Board on Tuesday to consider maximum possible relief for the business community.
The Chairman also agreed in principle to increase the permissible parking area from 750 to 1,000 square feet. The matter of extending the revised provision to previously allotted plots will also be placed before the CDA Board.
On property transfers, the Chairman assured ICCI that the existing 0.25 percent fee on legal inheritance transfers within families would be considered for abolition, subject to CDA Board approval. A similar proposal was discussed for abolishing the 0.25 percent fee on General Power of Attorney (GPA) transactions within blood relations.
President ICCI Sardar Tahir Mehmood welcomed the positive response and stressed the need for practical reforms, simplified procedures and reasonable charges to promote investment, construction and commercial activity in Islamabad.
The Chairman CDA assured the delegation that ICCI representatives would be welcomed again on Tuesday to discuss the CDA Board’s decisions and follow up on the proposed relief measures
