📌 Key Highlights & Quick Takeaways:
- The World Bank has approved a loan of 150 million dollars for Pakistan and this amount will be spent on improving local government services.
- According to the World Bank, under the program, the target of increasing the annual property tax collection in Karachi to 8.5 million dollar.
- The statement said that the rate of property tax collection in Karachi will be increased from 20 percent to 50 percent and under the plan, t.
The World Bank has approved a loan of 150 million dollars for Pakistan and this amount will be spent on improving local government services in Sindh and increasing the financial capacity of local governments.
According to the World Bank, under the program, the target of increasing the annual property tax collection in Karachi to 8.5 million dollars has been set, while earlier this target was 8.5 million dollars.
The statement said that the rate of property tax collection in Karachi will be increased from 20 percent to 50 percent and under the plan, the local bodies of Sindh will be able to spend 70 percent of the collected property tax on development works.
