ISLAMABAD, DEC 15 /DNA/ – The business community of the federal capital has categorically rejected the Federal Board of Revenue’s (FBR) notification dated December 8, 2025, which revises the valuation of residential and commercial properties in Islamabad Capital Territory by up to 1,700 percent in certain cases.

This unanimous stance was announced by President Islamabad Chamber of Commerce and Industry (ICCI) Sardar Tahir Mehmood while addressing a largely attended press conference at the Chamber House on Monday evening. He warned that if the controversial notification is not withdrawn, the business community will stage a massive protest and hold a sit-in in front of the FBR on December 22, 2025.

The ICCI President sounded the alarm, stating that the oppressive measure would strangulate trade and industry in the region, leading to severe unemployment, business closures, economic unrest, and the relocation of industries to other regions and countries. He said the abrupt increase has shattered investor confidence and dealt a serious blow to the ease of doing business.

Calling for urgent intervention, Sardar Tahir Mehmood appealed to Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Asim Munir to take notice of the gravity of the situation and step in to safeguard the country’s broader economic interests. He termed the FBR’s move a conspiracy against the Prime Minister’s tireless efforts to revive industry and create a business-friendly environment, regretting that certain elements appear determined to undermine these initiatives.

Chairman ICCI Founder Group Sheikh Tariq Sadiq strongly endorsed the decision to protest and stage a sit-in.

President All Pakistan Anjuman-e-Tajraan Ajmal Baloch announced that the entire city would join the protest on December 22. He demanded the immediate removal of Federal Finance Minister Mohammad Aurangzeb and an end to corruption in the name of the Point of Sale (PoS) system and called for strict action against those involved. Renowned business leader Ahsan Malik also addressed the press conference, expressing serious concerns over the negative impact of the valuation hike on economic activity.

Earlier, a consultative session was held at ICCI, bringing together leaders from trade, industry, real estate, construction allied sectors and citizens of the capital city. Speakers including Sardar Tahir Mehmood, Sheikh Tariq Sadiq, Chaudhry Abdur Rauf, Kashif Chaudhry, Ajmal Baloch, Israr Mashwani and others unanimously termed the notification unilateral, irrational and anti-business, demanding its immediate withdrawal.

They warned that such abrupt measures without meaningful consultation would have far-reaching consequences for investment, real estate activity and overall economic confidence, emphasizing that trust erosion at this critical juncture could further deepen the country’s economic challenges.

Senior Vice President Tahir Ayub, Vice President Irfan Chaudhry, former President Mian Akram Farid, Mohammad Ejaz Abbasi, Mian Shaukat Masood, executive committee members and a large number of business leaders were also present on the occasion.