LAHORE – The Lahore Chamber of Commerce & Industry (LCCI) has welcomed the Punjab government’s decision to withdraw 16% Sales Tax on commercial property rent.
The decision comes as a direct result of the consistent and constructive efforts of the LCCI, which had raised strong reservations over the negative economic impact of this tax.
LCCI President Faheem Ur Rehman Saigol, along with Senior Vice President Tanveer Ahmed Sheikh and Vice President Khurram Lodhi, had urged the provincial government to reconsider the levy, highlighting that it would burden the already stressed retail and commercial sectors.
The LCCI leadership, in a formal communication addressed to the Minister for Finance, Punjab, Mian Mujtaba Shuja ur Rehman, had emphasised that the imposition of the 16% Sales Tax on commercial rent was causing concern among businesses already struggling with high operational costs, inflation, and shrinking profit margins.
Following LCCI’s advocacy and persistent engagement with the concerned authorities, the Punjab government has now reversed its decision — a move that has been widely welcomed by the business community.
Faheem Ur Rehman Saigol appreciated the government’s responsiveness and thanked the Finance Minister for understanding the genuine concerns of the private sector.
“This decision will provide much-needed relief to the retail and commercial sectors, prevent potential job losses, and support business continuity. It is a positive step towards creating a more conducive environment for trade and investment in Punjab,” he said.
He reiterated LCCI’s commitment to continue working closely with the government for the promotion of economic stability, facilitation of businesses, and sustainable growth.
