Lahore: The Lahore Chamber of Commerce & Industry Saturday appreciated the Punjab government for taking back the decision of increase in property tax in its recent cabinet meeting.
In a statement, LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq said that the acceptance of LCCI’s demand for the withdrawal of exorbitant increase in the property tax is an ample proof of the government’s friendly approach towards the business community.
They said that the Lahore Chamber of Commerce & Industry taken up the issue of hike in property tax effectively during a meeting the Chief Minister Punjab Sardar Usman Buzdar and apprised him the adverse effects of this step on the trade and industry.
“We are thankful to Chief Minister Punjab Sardar Usman Buzdar for adhering to the demand of LCCI and providing a relief to the members of business community”, the LCCI office-bearers added.
They said that the Punjab Minister for Excise and Taxation Hafiz Mumtaz Ahmad and Secretary E & T Waqas Ali have also played a laudable role for the withdrawal of hike in property tax.
The LCCI office-bearers hoped that formal notification in this regard will be issued soon.
They said that the decision of Punjab government will help to ease out the business community which is already facing multi-dimensional economic challenges due to recent devaluation, rise in policy rate and high inflation.
They said that withdrawal of hike in property tax on demand of the Lahore Chamber of Commerce & Industry will help trust building and will promote the idea of public-private partnership.
Office-bearers of the Lahore Chamber of Commerce & Industry vowed that the LCCI will continue to raise the issues being faced by the business community so that they can play their role more effective role in economic uplift of the country.
They hoped that the government will take business community on board while devising trade and industry related policies.