Punjab Minister for Finance Mujtaba Shujaur Rehman is optimistic that the levy on big houses and luxury vehicles will broaden tax net and generate Rs3 billion in the upcoming fiscal year.
“The revenue generated through this pragmatic measure would be utilised for housing projects for low-income group like Ashiyana Housing Scheme,” the minister told media at the post-budget press conference yesterday.
He said property tax had been revised after 13 years or so. The funds generated under this head would be given to town municipal administrations and other development and civic agencies.
Imposition of tax on services would not affect the poor, said Mr Rehman who was flanked by Finance Secretary Jahanzed Khan, Planning and Development Board Chairman Irfan Elahi and MPA Dr Ayesha Ghous Pasha.
