KP govt gives TMAs Rs1.5bn as compensation for Covid losses

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has released Rs1.5 billion to Tehsil Municipal Administrations (TMAs) across the province as compensation for the losses incurred due to the coronavirus pandemic.
According to the details, TMAs are facing huge losses as the provincial government has stopped them from collecting property taxes for one year across the province due to the coronavirus pandemic.
Therefore, the provincial government has decided to provide the administrations with Rs4bn until the period of property tax relief expires.
In this regard, the provincial government had initially released Rs1.5bn while another Rs2.5bn would be released in instalments until June 2021.
According to sources in the local government department, the provincial cabinet had waived the two per cent property tax for one year to provide relief to the business community against the losses incurred due to coronavirus pandemic.
It may be mentioned here that the KP government will pay the amount from its own resources during FY21.
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