Aqeel Karim Dhedy, renowned business magnate and commentator, joined Doctor Moeed Pirzada to throw light on the recent constitutional amendment proposed by the Federal Board of Revenue which has, in effect, fixed the prices of properties in 21 cities and lengthened the withholding period.
It has also, essentially, given the federal government the autonomy to fix land prices. As a result of the levy, the property markets have been stagnant ever since and the realtor community is suffering. AKD threw light on the situation and said that the government will most probably elongate the withholding period to 5 years as originally proposed.
