LAHORE  -   Gold price is continuously rising in the country and the current price of the yellow metal stands at Rs89,000 per tola after an increase of Rs600 per tola. Per tola gold in Lahore, Peshawar, Quetta, Gujranwala, Multan, Faisalabad, Karachi, Hyderabad, and other sarafa markets were sold at Rs89,000. The jewelers association said a record increase of Rs34,650 per tola in the price of the glittering metal was witnessed this year. The gold price was raised by Rs100 per tola on Friday, torching the new price to Rs88400 per tola. The domestic gold price was up by Rs150 to touch an all-time high of Rs88400 per tola on August 16. 10-gram price of gold went up by Rs128 to reach Rs75788.

 According to Pakistan Jewellers Association (PJA) chairman Muhammad Arshad, the domestic gold price has been showing an upward trend because of an increase in the gold price in the global market, which has now reached $1515 per ounce.

 

Ahmed Hassan Moughal said that if it was essential for MCI to make increase in property tax, it should have achieved this objective gradually. However, MCI has made more than 200 percent increase in property tax for commercial consumers in one go, which was unjustified and it should immediately withdraw this increase. He said that the local business community was already facing many problems in running businesses due to multiple factors and in such circumstances, doubling property taxes on them would put heavy burden on them. He appealed to the Prime Minister of Pakistan Imran Khan to take notice of this situation and issue instructions to MCI to withdraw unjustified increase in property tax.

ICCI President said that at the one hand, MCI was increasing taxes on businesses, but on the other hand it was taking no tangible measures to improve conditions in commercial areas and markets. He urged that if MCI was imposing taxes on business community, it should also take urgent measures to improve the basic infrastructure in commercial/industrial areas and in markets.