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August 19, 2019

MCI asked to withdraw 200% hike in property tax

Islamabad

August 19, 2019

Islamabad : The Islamabad Chamber of Commerce & Industry (ICCI) has called upon the Metropolitan Corporation Islamabad (MCI) to withdraw the over 200 per cent hike in property tax for commercial consumers as doubling property tax in one go was totally unjustified and would add to the difficulties of business community.

Ahmed Hassan Moughal, President and Rafat Farid Senior Vice President, Islamabad Chamber of Commerce & Industry said that MCI has unilaterally made over 200 per cent increase in property tax for commercial consumers from 1st July 2019 without any public hearing, which was not justified. They emphasized that MCI should have first organized a public hearing on the issue and after getting the point of view of stakeholders, it should have taken a consensus decision.

Ahmed Hassan Moughal said that if it was essential for MCI to make increase in property tax, it should have achieved this objective gradually. However, MCI has made more than 200 per cent increase in property tax for commercial consumers in one go, which was unjustified and it should immediately withdraw this increase. He said that the local business community was already facing many problems in running businesses due to multiple factors and in such circumstances, doubling property taxes on them would put heavy burden on them. He appealed to the Prime Minister of Pakistan Imran Khan to take notice of this situation and issue instructions to MCI to withdraw unjustified increase in property tax.

ICCI president said that at the one hand, MCI was increasing taxes on businesses, but on the other hand it was taking no tangible measures to improve conditions in commercial areas and markets.

He urged that if MCI was imposing taxes on business community, it should also take urgent measures to improve the basic infrastructure in commercial/industrial are-as and in markets.

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