Islamabad residents, including the traders community, have threatened to stage a protest and contest the decision in court after the local administration made an exorbitant increase in property taxes.

The Metropolitan Corporation Islamabad (MCI) recently got the new property taxes published in the gazette of Pakistan, reported Dawn News.

“Traders have decided to meet on Wednesday to chalk out a strategy to contest this massive 300pc increase in property tax,” All Pakistan Anjuman-i-Tajiran President Ajmal Baloch told Dawn News.

He said this exorbitant increase was not acceptable to traders as well as the residents of the capital.

Baloch said this increase was unprecedented and also a violation of court orders. He said some years ago, the MCI had increased tax rates, but the chamber of commerce filed a petition with the Islamabad High Court, which decided that the interim setup of the MCI could not impose taxes and such policy decisions should be taken by elected representatives of the local government.