Lahore: The city revenue department lost more than PKR 3 billion in collections for property transfers during the ongoing lockdown implemented to contain the coronavirus pandemic — according to a news source. These losses were due to the closure of all the property registration branches in the city (nine in total) during the lockdown period.
Now that these registration branches have been reopened, the approximate losses have been estimated to be upwards of PKR 3 billion. Revenue department collections generally include registry fees, stamp paper fees, income tax, and various other taxes that weren’t collected from the end of March to the end of May.
Reportedly, the revenue department faced its largest loss in its Gulberg registry branch — with estimated losses worth PKR 1.73 billion. In addition, PKR 682 million losses were recorded for the Nishtar Town branch; PKR 471 million for Iqbal Town; PKR 281 million for Aziz Bhatti Town; PKR 139 million for Data Ganj Bakhsh Town; PKR 233 million for the Ravi Town registry; PKR 166 million for Samnabad; PKR 46.7 million for Shalimar Town; and PKR 324 million for Wagah Town.
