President of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, has welcomed the federal government\u2019s decision to substantially reduce Floor Area Ratio (FAR) charges for hotel developments in the capital.
\nHe described it as a \u201cbusiness-friendly and confidence-enhancing\u201d initiative poised to accelerate stalled projects and attract further investment.
\nIn a statement issued Tuesday, he emphasized that while the FAR relief for hotels is a timely and positive step, it is equally crucial that the government extend similar incentives to commercial buildings. \u201cBoth sectors were subject to increased FAR charges, yet only hotels have benefited so far. This selective approach risks creating structural imbalances and imposes undue pressure on the commercial construction sector,\u201d he noted.
\nSardar Mehmood urged authorities to urgently review and rationalize FAR charges for commercial properties to restore equity, bolster investor confidence, and curb rising construction costs.
\nHighlighting the broader economic significance, he underscored that the construction industry is a key engine of Pakistan\u2019s economy, driving growth across allied sectors such as cement, steel, tiles, electrical goods, and labor-intensive services, while generating substantial employment opportunities.
\nHe called for a consultative and stakeholder-driven approach to ensure ease of doing business, cost rationalization, and sustainable urban development.
\nSardar Mehmood further stressed that Islamabad\u2019s skyline, affordability, and demand for green spaces necessitate the promotion of high-rise development, akin to the urban signature skylines seen in other major cities of the world.
\nHe noted that such vertical growth is only feasible if the Capital Development Authority (CDA) actively encourages and facilitates high-rise construction, thereby supporting both aesthetic urban identity and strategic land use.
\nReaffirming the chamber\u2019s commitment, he stated that the ICCI will continue collaborating with policymakers to advance balanced, growth-oriented policies that safeguard investor interests and reinforce long-term economic stability.<\/p>\n","protected":false},"excerpt":{"rendered":"
President of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, has welcomed the federal government\u2019s decision to substantially reduce Floor Area Ratio (FAR) charges for hotel developments in the capital. He described it as a \u201cbusiness-friendly and confidence-enhancing\u201d initiative poised to accelerate stalled projects and attract further investment. In a statement issued …<\/p>\n","protected":false},"author":4,"featured_media":81355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-94197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/94197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=94197"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/94197\/revisions"}],"predecessor-version":[{"id":94208,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/94197\/revisions\/94208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/81355"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=94197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=94197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=94197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}