LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the Punjab government’s decision to withdraw an increase in the property tax, a statement said.

The Excise, Taxation and Narcotics Control Department has issued a notification, in this regard. LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq said that the withdrawal of exorbitant increase in the property tax showed the government’s friendly approach towards the business community.

“We are thankful to Punjab Chief Minister Sardar Usman Buzdar for adhering to the demand of [the] LCCI and providing a relief to the business community,” the LCCI office-bearers added.

They said it was a big relief for the business community, which was already facing multiple challenges due to the recent rupee depreciation, rise in the key policy rate and high inflation.

They expressed the hope that the government would take the business community on board, while devising trade and industry-related policies.

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