The present government deserves praise for taking an extremely bold step as putting a tax on the actual/real/current value of real estate/ property. According to a news report, the task of determining the fair market price of property has been given to professional valuers approved by the State Bank of Pakistan. In this way, tax evasion can be dealt with once and for all. The government will indeed face a stiff resistance from an extremely powerful land and builder mafia. But I request them to be resolute and continue to stand firm on their decision. It will seemingly also reduce investment from overseas Pakistanis as well as from local investors. But it will surely prove beneficial to the country in the long run.


Karachi, July 19.