LDA inaugurated ‘Overseas Pakistani Desk’ at the LDA office on the 12th of November. The main purpose is to protect the properties of the Pakistanis who are living outside the country. The ceremony was attended by all LDA executives including DH Ahmad Aziz Tarar and overseas Pakistanis commission vice chairman Syed Tariq Mahmoodul Hassan. This desk is set up on the orders of Chief Minister Usman Buzdar and he also directed LDA to operate the specified desk efficiently and resolve the co...

Sindh Governor and Turkey mayor decided to declare Karachi and Istanbul as sister cities. They both also discussed issues of mutual interest including promoting bilateral relations and employment issues for the jobless Pakistanis in Istanbul. Sindh Governor briefed about the 120-kilometer metro that was under construction in the city. Istanbul mayor also invited our governor to attend a summit which is happening in Balkan City next month. Sindh Governor also appreciated Turkey for its...

Fareena Mazhar (The secretary Board of Investment) stated that Pakistan is planning to renegotiate Bilateral Investment Treaties (BIT), according to the new template given by the government.The government is creating a new framework with the help of the United Nations Conference of Trade and Development. She also stated that BIT partners have reached several agreements with Pakistan. Pakistan has just signed 53 Bilateral Treaties with different countries in which 32 BITs are in force...

Punjab Finance Minister Makhdoom Hashim Jawan Bakht on Wednesday (October 13) announced that all the PKR 13 billion worth of development schemes under the Faisalabad District Development Programme will be completed by the end of the current fiscal year.As per the details shared, the development projects include a state-of-the-art system of urban transport and resolving the problem of clean drinking water, Water and Sanitation Agency (WASA), and municipal. The minister stated that the incum...

The Punjab Government has decided to make Lahore Pakistan’s first smart city in the upcoming 3 years. The initial phase of this ProJet will be completed by 2024. The project is being headed by the Government of Punjab and PITB. In this Project, Lahore will be developed keeping in mind the international practices and standards. The residents will be able to access civic and government services through their mobile phones. The facilities will be provided as Online parking and online booki...

Punjab’s CM Usman Buzdar stated that Government is taking steps to make the province of Punjab business-friendly with better policies. These efforts are being made to attract more potential investors in the region.He made the above-stated remarks in a meeting with Saudi Ambassador Nawaf Bin Saeed Ahmed Al Malki, he also stated that Punjab Government has established a “Zero NOC Policy” in special Economic Zones (SEZs) in the province to facilitate businesses. He also mentioned that th...

Usman Buzdar, Punjab Chief Minister revealed that Ravi Riverfront Urban Development will be showcased in Dubai Expo. The Sole purpose of this Showcasing is to attract foreign investment. According to CM Buzdar, this project will be a Game changer as it attracts investors with its unique location. Ravi Riverfront is being built on the bank river which is inspired by London. CM Buzdar also reviewed the ongoing development in Ravi Riverfront and was very satisfied with the development w...

FBR (Federal Board OF Revenue) announced that overseas Pakistani’s can now use the IRIS portal for the purpose of filing income tax returns.There is an e filling URL on FBR's official site where one can use this URL to file an income tax return. This URL is introduced to minimize the difficulties of overseas Pakistanis had faced filing income tax returns in the past. The Last Date to file an income tax return is 30 September.

Punjab Planning and Development Board has released PKR 8.1 billion for different development projects. These development projects include the construction of roads and other infrastructures across many districts of the province. Further details are mentioned below PKR 2.5 billion for the establishment of sub-campus of UVAS (the University of Veterinary and Animal Sciences) in chichawatni.The building of a 12Km long dual road in Rahim Yar Khan has also been granted and budgeted at PKR 8...

Mr. Asad Khokhar, Punjab Minister for Housing and Urban Development announced that Ferozepur road will be connected to the motorway and this project will be initiated very soon. LDA has also approved the construction of a 15Km signal-free corridor between the Kharak stop and Ferozpur Road. Mr. Asad Khokhar also instructed the relevant authorities to produce a timely report to bring such territories under the jurisdiction of WASA.

A total of 500 schemes worth PKR 86.9 billion are going to be launched in the Rawalpindi region. 430 of them are approved and the rest of them are in progress to be approved.According to the commissioner, office spokesperson 361 initiatives were approved in which 264 are new projects and 96 ongoing projects. These new projects are introduced in different sectors including 33 highway divisions, 72 building divisions, 50 local government, 8 for tourism, and 29 for public health. Commi...

CDA collected PKR 20.35 billion through the auction of 13 properties in different areas of Islamabad. The event got an overwhelming response from the investors and the authority reached its goal amount on the very first day by auctioning 13 out of 29 plots for sale. The highest bid received for a plot was PKR 6.5 billion. CDA chairman Amer Ali Ahmed stated that the sale of these commercial plots will be used for public welfare and to build more housing units in the area.

LDA (Lahore Development Authority) has proposed a project concept (PC-1) of the reconstruction of Burki Road, Babu Sabu, and Sagian Road to the Government of Punjab. The expected cost of this project is about PKR 1.3 billion. This concept project details have been shared with Punjab secretary housing and P&D for approval. According to the engineering wing of LDA, the estimated cost of rehabilitation of Sagian interchange will cost about PKR 750 million. While the construction of th...

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The Federal Board of Revenue (FBR) has announced to treat the cooperative housing societies (CHS) as a company for tax purposes. FBR also mentioned that they will make sure that CHSs file their income tax returns properly on an accrual basis.The FBR issued circular number 3,2022 instructing formations to resolve outstanding cases for revenue collection. It was mentioned that under the cooperative society act 1925 there are 3 problems·        Real Estate p...

Finance Minister of Punjab Makhdoom Hashim Butt announced that the property tax will be calculated on the basis of the rental value of the property rather than the Area. He also mentioned while talking to a news source that the gap between personal use and tenancy in commercial real estate will also be reviewed. While chairing the meeting of the ministerial committee for resource mobilization 2021,22 he also mentioned that amendments in the Punjab Urban Immovable, property tax act 19...

IT ministry of Pakistan is planning to establish a software technology park in Rawalpindi and Faisalabad. The concern behind this initiative is to promote the IT sector in the region, two MOUs were also signed for setting up these technology parks.This technology park in Faisalabad will be set up at Sitara chemical’s Ali Fatima College of Science and Technology on an area of 19500 square feet.While the technology park in Rawalpindi will be set up at the amazon outlet mall in an area of 440...

CSNR (China Society of Natural Resources) executive secretary Shan Lei has said that climate change in Pakistan can be alleviated through CPEC.Shan lei has also said that Pakistan can easily achieve this target under CPEC through Technology and equipment.She also pointed towards losses along with transmission lines and said that energy structure adjustment is an effective way to solve the problem of energy shortage in Pakistan. The World Bank believes that Pakistan should add 24...

The Punjab Government has announced future plans to formulate an amnesty scheme for the real Estate Sector under which illegal housing projects build on green areas will be benefitting from the national reconciliation ordinance (NRO).Under this amnesty hundreds of private housing schemes will get relief; all legal processes will be initiated to start the regulation process after small penalties and fines. The ordinance will set up a special commission which will be headed by a retired supreme c...

The commission is formed to regularize the illegal housing schemes in PunjabOn 9th April Provincial government of Punjab formed a Punjab commission for regularization of irregular housing schemes ordinance 2021. The main purpose of this commission is to regularize private housing schemes and take strict actions against irregular residential projects all across Punjab.A five-member commission will be established for this purpose and the said commission will be beyond the jurisdiction of the...