MULTAN: The traders’ bodies have rejected new property valuations of Multan district, issued by the Federal Board of Revenue (FBR).
Multan Chamber of Commerce and Industry (MCCI) President Fareed Mughees Sheikh, while talking to media, said that these valuation tables were prepared without consultation with the stakeholders. He also rejected the FBR’s proposal to realise five per cent advance tax from the developers and builders.
Sheikh said that there were many legal flaws in the valuation system, which needs to be removed in consultation with the Multan Chamber and other concerned stakeholders as there could not be two regulators. He also emphasised that amendments should be made in the valuation tables to make them practical.
