Punjab Governor Sardar Saleem Haider Khan said on Sunday that additional tax relief for the real estate sector is expected in the upcoming budget as part of broader efforts to revive economic activity and support industrial growth.
Speaking to a delegation from the Lahore Chamber of Commerce and Industry (LCCI) at Governor House, the governor said the government was implementing measures to address long-standing challenges faced by the real estate and industrial sectors.
He stressed that sustainable economic growth depends on inclusive policymaking, noting that past policies often fell short due to a lack of consultation with key stakeholders. “Decisions must reflect ground realities to ensure long-term success,” he said.
The governor praised the business community for continuing investments despite economic challenges, describing it as a sign of resilience and commitment to the country. He assured participants that the government remains committed to addressing their concerns and facilitating business-friendly policies.
LCCI President Faheem Ur Rehman Saigol highlighted challenges faced by industries in key areas including Saggian, Ferozepur Road, Multan Road and Raiwind Road, where more than 1,400 industrial units operate. He said high commercialization fees and administrative hurdles were threatening the survival of these businesses and called for their formal recognition as industrial zones.
Saigol also emphasised the importance of involving the private sector in policy decisions, particularly regarding industrial relocation plans. He said meaningful consultation with stakeholders is essential for effective implementation.
Highlighting the role of real estate, he noted that the sector is linked to over 40 allied industries and plays a critical role in economic growth. He urged the government to introduce incentives to boost investment and restore momentum.
The governor acknowledged the complexity of relocating industries from urban areas, calling for a gradual and consultative approach. He suggested providing alternative land, infrastructure and financial support to ensure a smooth transition.
He added that recent improvements in the real estate sector indicate early signs of recovery, with further supportive measures expected to be announced in the upcoming budget.