Rawalpindi
\nThe Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed strong reservations over recent policy measures announced by the Punjab government, including the imposition of a 16% sales tax on commercial property rent and the introduction of arrest powers for non-compliance with the newly mandated minimum wage.
\nRCCI President Usman Shaukat, in an official statement, criticized the Punjab Revenue Authority (PRA) for imposing a 16% General Sales Tax (GST) on the rent of commercial properties. \u201cThis new tax regime will significantly raise the cost of doing business for tenants, particularly retailers, across Punjab,\u201d he said.
\n\u201cIt will discourage investment, push legitimate businesses into the informal sector, and further strain an already struggling retail and real estate market.\u201d
\nShaukat added that the new tax would exacerbate the ongoing slowdown in the property and retail sectors, both of which are still reeling from post-pandemic economic challenges.
\n\u201cSuch measures are counterproductive and will undermine business confidence in the province.\u201d
\nIn addition, the RCCI president voiced strong opposition to a clause in the recently passed Punjab budget that allows for the arrest of business owners failing to implement the new minimum wage of Rs. 40,000. \u201cThis coercive approach is deeply concerning and must be withdrawn immediately,\u201d he said. \u201cIt opens the door to potential misuse by enforcement authorities and will only lead to harassment of legitimate businesses.\u201d
\nWhile acknowledging the importance of fair wages, Shaukat emphasized the need for economic policymaking to be grounded in current market realities. \u201cWith national inflation now at a historic low of 6%, the rationale behind such a steep wage hike is questionable. A more balanced and consultative approach is needed to ensure economic growth, job creation, and industrial sustainability.\u201d
\nThe RCCI called on the Punjab government to review both measures and engage in meaningful dialogue with the business community to ensure that policies promote \u2014 rather than hinder \u2014 economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rawalpindi The Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed strong reservations over recent policy measures announced by the Punjab government, including the imposition of a 16% sales tax on commercial property rent and the introduction of arrest powers for non-compliance with the newly mandated minimum wage. RCCI President Usman Shaukat, in an official […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-491562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n