WB okays $150m for raising revenue

The World Bank’s executive board has approved $150 million for Sindh PREP, a programme intended to improve urban property-tax collection and municipal services in Sindh, The Express Tribune reported. In Karachi, annual property-tax receipts are about $8.5 million, and the programme sets a goal of lifting them to $85 million while raising compliance from 20% to 50%.

The initiative will cover Karachi’s 25 local councils, serving 3.58 million residents, with around 70% of collected property-tax revenue directed back into local infrastructure and services. A separate $40 million financing component will extend property surveys and tax administration to 20 councils in other Sindh urban centres, indirectly benefiting about 4.5 million people. Funding for councils will depend on annual performance assessments, and projects may include drainage, sewerage, schools, roads and street lighting.