Property dealers announce to ‘shut down’ Lahore on Nov 2

The United Property Dealers Association (UPDA) on Monday staged a protest demonstration outside Punjab Assembly against the new taxes on property.

Hundreds of property dealers marched from Defence Housing Authority (DHA) and gathered at Liberty Chowk in Gulberg area of Lahore and later reached outside Punjab Assembly when its session was in progress.

The charged protesters were carrying placards inscribed with their demands and were chanting slogans against the government.

The leaders of the association said that the government had imposed a major tax on the real estate without taking them on board. They said that they were not against the taxes but the government’s way of imposing tax was to force dealers to stop their business.

“Government collects more than 23 billion rupees annually in term of taxes levied on property transfer just from DHA, and this shows how much revenue is being collected from all over the country,” the protesters said.

Later, Pakistan Muslim League - N (PML-N) leader Pervaiz Malik met the protesting UPDA leaders and assured them that their demands will be fulfilled. UPDA leaders gave a deadline of October 30 to withdraw the decision wise they will stage a massive protest in Lahore. While talking to Pakistan Today, DHA Property Dealers’ Association President Arshad Khokhar said that they were already paying a large amount of tax to the government but the new formula of tax collection is unrealistic. “The real estate sector has grown a lot during the past decade. The government’s decision to raise the tax on the sale and purchase of plots will discourage people from investing in it”, he said, adding that instead of imposing new formula, government should property tax gradually.

Khokhar said that currently there are ten per cent of people who are tax filer while the remaining do not pay their taxes. “Instead of keeping non-tax filer into tax net, government is discouraging them,” he said and alleged that now FBR officials are demanding bribe on transfer of every plot.

Khokhar was of the view that if the decision was not withdrawn, we would launch nationwide movement against the government on November 2. “In Islamabad there will be protest of PTI and the Lahore city will be shut down by property dealers. The government will be responsible for the situation” he added.

During the protest, a massive traffic jam was observed on all adjacent roads which added to the problems of the commuters.