Good news for the poor people afflicted by inflation, Punjab government has decided to abolish license fee on small business, license fee imposed on more than 50 small business in the previous LG setup will be abolished.
In the previous local government system, the Punjab government had given the authority to local bodies to levy license fees on small businesses to increase their revenue, after which license fees were levied on 50 businesses including wheelbarrows, food counters and small shops. Now the Punjab government has decided to abolish the license fee imposed on small businesses in the previous LG setup. A summary of the abolition of license fee on small businesses has been sent to the Cabinet Sub-Committee with the approval of 50 small Millions of business people will get relief, while the new local government system will not charge a license fee for small businesses.
On the other hand, the Punjab government has issued licenses to eight companies wishing to invest in Punjab to set up cement factories. Provincial Minister for Minerals Hafiz Ammar Yasir said that a cement factory invests Rs 30-35 billion, hope He said that immediate investment of about Rs. 300 billion would be made in this sector in Punjab.
In addition, the Federal Board of Revenue has decided to impose a 17% tax on car dealers on the profits from the sale of used vehicles, which car dealers have expressed concern.