World Bank Approves $150 Million Loan for Improving Municipal Services in Sindh

The World Bank has approved a $150 million loan for Pakistan to improve municipal services and strengthen the financial capacity of local governments in Sindh.

According to the World Bank, the programme aims to increase annual property tax collection in Karachi to $85 million, up from the previous target of $8.5 million.

The property tax collection rate in Karachi is also expected to rise from 20 per cent to 50 per cent under the initiative.

The programme will allow local government bodies in Sindh to spend 70 per cent of the property tax revenue they collect on development projects.

Around 3.58 million people associated with 25 municipal bodies in Karachi are expected to benefit from the programme.

Clarify the tax collection figuresUse consistent currency formatting