Faisalabad: [ReNews Pakistan]
The Faisalabad Chamber of Commerce & Industry (FCCI) has welcomed the real estate and property related incentives announced in the Federal Budget 2026-27, terming them a positive step toward reviving investment, accelerating economic activity and restoring confidence in one of the country’s most important economic sectors.
FCCI President Farooq Yousaf Sheikh said the real estate and construction sectors serve as a backbone of the national economy, as dozens of industries are directly and indirectly linked with property development, construction activity and housing-related investment. He said any revival in the property market produces a wider economic impact through increased demand for construction materials, higher industrial activity, job creation and fresh investment flows.
Reacting to the federal budget after watching the budget speech at the FCCI complex, Sheikh said the government’s decision to reduce withholding tax on property transactions to 2.75 percent, along with the lowering of certain other taxes on the purchase and sale of properties, was a constructive and far reaching measure.
He said the reduction in transaction related taxes would help reactivate the real estate market, encourage genuine buyers and investors, and bring confidence back to a sector that had been under pressure due to high taxation and rising financial burdens.
According to the FCCI President, the business community had long been demanding relief for sectors that directly contribute to investment, commercial activity and employment generation. He said excessive taxation on property transactions had discouraged market participation and slowed down activity in real estate and construction linked businesses.
Sheikh said the property sector’s revival would not remain limited to buyers and sellers alone, but would also benefit allied industries including cement, steel, bricks, tiles, sanitary fittings, electrical equipment, paint, furniture and other construction-related businesses. He added that a vibrant real estate market could play an important role in supporting national income and expanding the tax base.
He appreciated the government, the Prime Minister, the Finance Minister and the economic team for introducing budgetary relief for important sectors, saying that practical measures were needed to strengthen investor confidence and promote sustainable economic recovery.
The FCCI President said sustainable growth depends heavily on private-sector development. When businesses and investors are provided confidence, facilitation and policy continuity, the benefits appear in the form of higher production, more employment opportunities and increased economic activity, he added.
He emphasized that Pakistan’s economic challenges could be addressed through investment promotion, continuity in policies and a business-friendly taxation system. He said the government should continue consulting chambers of commerce, developers, builders, traders and other stakeholders during the budget approval process to ensure that the final measures support long-term economic revival.
Sheikh expressed optimism that the relief measures announced for the real estate sector would help restore momentum in the property market and create a positive impact across connected industries.

Faisalabad: [ReNews Pakistan]
The Faisalabad Chamber of Commerce and Industry has formally launched its new website, through which all essential information related to the chamber will be made available online to members, the business community and general users.
The website was inaugurated by Faisalabad Chamber of Commerce and Industry President Farooq Yousaf Sheikh along with Sri Lankan High Commissioner Rear Admiral Retired Fred Seneviratne. On the occasion, the Sri Lankan High Commissioner formally launched the website by pressing a button and appreciated the efforts being made to promote information technology in Pakistan.
Speaking at the ceremony, Faisalabad Chamber President Farooq Yousaf Sheikh said the new website would be connected with a chatbot, enabling users to access essential information related to industry and trade with a single click.
He said the entire system of the Faisalabad Chamber was being gradually digitalized to provide members with modern, fast and effective facilities. Farooq Yousaf Sheikh also appreciated the efforts of the chamber’s IT section in developing the website, saying that digitalization would play an important role in providing convenience, transparency and timely information to the business community.

Faisalabad | ReNews Pakistan
China’s Dongjin Group is set to establish a $15 million lithium and dry battery manufacturing facility in Allama Iqbal Industrial City, Faisalabad, marking another important step toward strengthening Pakistan’s emerging battery manufacturing sector.
The planned facility will be developed in the Special Economic Zone near Faisalabad. The investment agreement has been signed with the Punjab Board of Investment and Trade, as Pakistan continues efforts to attract advanced manufacturing projects under investor friendly industrial policies.
The project is expected to help meet Pakistan’s rising demand for batteries, particularly as the country witnesses growing adoption of electric vehicles, solar power systems and renewable energy storage solutions. Officials believe local battery production can play a key role in reducing dependence on imports while supporting industrial growth.
Speaking about the investment, Sharqi Ali Tipu, Director of Marketing at the Punjab Board of Investment and Trade, said Dongjin Group decided to invest in Pakistan after observing strong market demand for batteries, especially in the electric vehicle and solar energy sectors.
He said the project is likely to generate significant economic and industrial activity across several connected sectors. These include electronics, automotive components, packaging, chemicals and engineering services. The facility is also expected to create employment opportunities in Faisalabad and nearby areas.
According to officials, the battery plant will also support the transfer of modern manufacturing technology to Pakistan’s local industry. This is considered important as the country moves toward building domestic capacity in high value industrial sectors.
Allama Iqbal Industrial City is one of Pakistan’s key Special Economic Zones developed under the China Pakistan Economic Corridor framework. The zone offers modern infrastructure, strategic connectivity and incentives aimed at attracting local and foreign investors.
Under Pakistan’s Special Economic Zone incentive package, Dongjin Group will be eligible for a 10-year income tax holiday. The company will also receive a one-time exemption from customs duties and taxes on the import of plant and machinery.
Officials from the Punjab Board of Investment and Trade said the board will continue to support the company throughout the investment process to ensure smooth implementation of the project.
Industry stakeholders believe the establishment of advanced battery manufacturing facilities is becoming increasingly important for Pakistan. They say the growth of electric vehicles, solar energy and energy storage systems has created a major opportunity for local manufacturing.
Former Chairman of the Engineering Development Board, Almas Hyder, said Pakistan is gradually moving toward the localization of lithium ion battery manufacturing. He said this shift can strengthen the country’s energy security and reduce reliance on imported battery products.
He also expressed hope that the recently introduced Battery Manufacturing Policy 2026–31 would encourage further domestic production and private-sector investment in the sector.
Hyder said batteries have become strategically important worldwide due to rising demand linked with renewable energy, electric vehicles and grid stability. He added that increased battery production in Pakistan could help reduce dependence on expensive electricity and imported fossil fuels.
The proposed Dongjin Group facility is being seen as an important investment for Pakistan’s industrial future, particularly at a time when the country is seeking to expand local manufacturing, promote clean energy solutions and attract technology based foreign investment.