The Lahore Metropolitan Corporation has achieved a record revenue collection in the current fiscal year, primarily driven by the Transfer of Tax on Immovable Property (TTIP) and map fees, according to official sources. The municipality collected Rs8.15 billion from TTIP tax, surpassing the annual target of Rs6.6 billion by 135 percent. As of June 1, total collections reached Rs8.15 billion against a target of approximately Rs6.5 billion, the Lahore Municipality report stated.
Map Fee Performance
Significant progress was also observed in map fee collections. The annual target was set at Rs400 million, and over Rs391.8 million had been collected by June 15. The Planning Department expressed confidence that the target would be exceeded by more than 100 percent by the end of the fiscal year. Historically, map fee income was limited to around Rs200 million, but this year it has increased to a record level.
Other Revenue Areas
Income from the General Bus Stand also showed improvement. Overall, the revenue collections of the Lahore Metropolitan Municipality recorded a substantial increase and improvement during the current fiscal year, sources added. The municipality's enhanced performance reflects better tax administration and compliance.
