KARACHI: In an effort to help the residents of the port city, Karachi Mayor Barrister Murtaza Wahab said on Sunday that parking lots under the administrative jurisdiction of the Karachi Metropolitan Corporation (KMC) would not be subject to taxes.
Wahab stated in a statement today that “this decision has been taken in the public interest, […] as the KMC is now standing on its own feet.” He was speaking of the metropolitan corporation’s improved financial status.
He continued by saying that the company has more than Rs2 billion in its bank account and does not need to collect Rs40–50 million in parking fees after it has achieved financial stability.
Wahab stated a day ago that the KMC had achieved a 300% increase in revenue, earning a “record-breaking Rs2.3 billion revenue” in just seven months.
