Islamabad, NOV 27: Islamabad Industrial Association (IIA) on Monday said that it rejects the cruel increase in property tax as it will damage the industrial sector.

The move will increase the problems of the industrial sector, which is already stuck in many difficulties.

While addressing a hurried association meeting, acting President IIA Karim Aziz Malik said that the industrial sector is already suffering from multiple problems.

Numerous problems have not only reduced the productivity of the industrial sector, but many units have been closed, and many are on the brink, he added.

Karim Aziz Malik said that in this grim scenario, the unjustified and illegal revision in property tax is unacceptable as it will increase the issues confronting industrialists.

He further said that in the absence of an elected district government and despite the explicit orders of the Supreme Court, the proposal to increase the tax is unfair and should be withdrawn immediately.

He warned that such unilateral moves will damage the industrial sector, which is already reeling under many issues and will trigger a flight of capital.

Former presidents of Islamabad Chamber, Khalid Javed and Tariq Sadiq, and others, including Chaudhry Wahiduddin, Nasir Qureshi, Mahmood Waraich, Omais Khattak, Shaukat Hayat Khan, Malik Sohail, Mahmood Elahi, Rafat Farid, Imran Sadiq and others were also present in the meeting.