KARACHI, 6 June — A new system of property tax based on self-assessment will be introduced by the Sindh government in the next budget. The provincial government is also considering converting the motor vehicle tax into a “road usage tax” to be collected by petrol pump dealers. Business leaders, who are in close touch with the government, hope that the next meeting of Sindh Cabinet, either this weekend or early next week, will adopt the outlines of the two new taxes. The two taxes apparently enjoy the support of the business community although some business leaders have reservations over the rate of taxes which they want the government to bring down to a realistic level. Financial institutions and banks, hotels and specialized restaurants, owners of commercial plazas, autonomous and semi autonomous bodies are likely to come under the tax net. At a rate ranging between 2.50 rupees to 8 rupees per square foot all these institutions and organizations that include hospitals and educational institutions will end up paying millions as property tax every year.