Traders welcome the cancellation of the property tax hike

KARACHI:

Businessmen appreciated the Punjab government’s decision to withdraw the property tax increase at its recent cabinet meeting.

In a statement released on Saturday, officials from the Lahore Chamber of Commerce and Industry (LCCI) said the government’s acceptance of the LCCI’s recommendation was sufficient proof of its pro-business approach. LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq jointly thanked Punjab Chief Minister Sardar Usman Buzdar for helping the business community.

They pointed out that Punjab’s Minister of Excise and Taxation Hafiz Mumtaz Ahmad and Secretary of Excise and Taxation Waqas Ali played a key role in withdrawing the property tax hike. They also hoped that a formal notification in this regard would be issued soon.

They felt that this decision would alleviate the problems of the business community which is severely affected by the recent devaluation of the rupee, the hike in the key rate and soaring inflation.

They said the reversal of the upside would help build confidence in government and promote public-private partnership.

Posted in The Express Tribune, November 28e, 2021.

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