FICO Strongly Opposes Proposed Increase in Property Tax
The Federation of Industrial & Commercial Organisation (FICO) has strongly opposed the Punjab Government’s plan to revise property tax slabs to match the increased collector rates.
City Air News
Feb 24, 2026 08:15
0
Ludhiana, February 24, 2026: The Federation of Industrial & Commercial Organisation (FICO) has strongly opposed the Punjab Government’s plan to revise property tax slabs to match the increased collector rates.
Gurmeet Singh Kular, President, FICO, said that linking property tax with collector rates will put a heavy financial burden on Not only on industries and businesses, but also on Common Man. He stated that industries are already going through a rough patch due to recession and effects of revised GST, high costs of raw materials, electricity, and other expenses. Any increase in property tax will make it more difficult for businesses to survive and may affect employment.
K.K. Seth, Chairman, FICO, said that collector rates are fixed mainly for property registration and stamp duty purposes and should not be used to calculate annual property tax. He added that this move may lead to a sharp increase in tax, especially in major industrial cities like Ludhiana.
FICO has requested the Punjab Government to discuss the matter with industry representatives before taking any final decision. The organization strongly demands that the proposed revision be reconsidered in the interest of industries and the state’s economy.
