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Stay informed with the latest developments in real estate, business, and investment trends across Pakistan and beyond. Chakor News delivers timely updates, expert insights, and market analysis to help you make informed decisions. Whether it’s project launches, economic shifts, or updates on regulatory changes, our news coverage keeps you ahead of the curve. Explore reliable stories, impactful headlines, and trusted reporting—only on Chakor News.

CategoriesNews Developments Transport Urban Developments & Planning

Pakistan–Kazakhstan $7bn Rail MoU Expected in Feb

ISLAMABAD: Pakistan and Kazakhstan have moved a step closer toward launching a major regional railway connectivity initiative, following a high-level consultation held at the Ministry of Railways in Islamabad between Federal Minister for Railways Muhammad Hanif Abbasi and Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin.

The meeting focused on strengthening bilateral cooperation in the railway sector and advancing Pakistan’s broader regional connectivity agenda. Both sides discussed strategic projects aimed at linking Pakistan with Central Asia through rail corridors, emphasizing the potential economic impact and long-term trade benefits for the region.

Officials stated that the proposed Pakistan–Kazakhstan Rail Connectivity Project has been identified as a strategically significant initiative under the Prime Minister’s Regional Connectivity Vision. Minister Abbasi described the project as a historic development for Pakistan’s railway sector, noting that it could open new avenues for trade expansion and strengthen regional linkages through enhanced transport integration.

Meanwhile, momentum for the agreement is expected to accelerate in the coming weeks, as Kazakhstan’s President Kassym-Jomart Kemeluly Tokayev is scheduled to visit Pakistan on February 3, 2026. The visit is expected to culminate in the formal signing of a Memorandum of Understanding, further solidifying railway cooperation between the two countries and advancing regional integration goals.

According to the discussions, a preliminary railway network linking Karachi Port to Kazakhstan has already been prepared. The network is intended to strengthen trade routes and improve Pakistan’s access to Central Asian markets. 

The plan also envisions extending the railway linkage through Chaman, connecting Afghanistan, Turkmenistan and Kazakhstan, which could further consolidate Pakistan’s role as a key transit hub for regional commerce.

The initiative, estimated to cost approximately USD 7 billion, is expected to be completed within three years, placing it among the largest railway connectivity projects currently under consideration in the region. Stakeholders believe the project could enhance freight movement, lower transportation costs and contribute to broader economic development.

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CategoriesNews Economy Investment

Gold Hits Historic High of Rs 506,362 per Tola

KARACHI: In a significant development, the price of 24-karat gold in Pakistan surged to Rs. 506,362 per tola, reaching an all-time high, following a sharp increase in international prices. Gold prices rose by $127 per ounce in global markets, reaching $4,840 per ounce, driven by geopolitical tensions, trade wars, and investment movements.

On Wednesday, the domestic gold price rose by Rs. 12,700 per tola, adding further pressure on buyers, especially during the peak wedding season. Investors, however, are showing optimism, with gold emerging as the leading asset in returns, outpacing stocks. As of January 1, gold prices have surged by Rs. 232,762 per tola, following a $2,216 per ounce rise in the international market.

Meanwhile, silver prices also saw a significant rise. The one-tola silver rate reached Rs. 9,933, up by Rs. 64 per ounce, while the 10-gram silver rate climbed to Rs. 8,515. Due to high demand, silver is now being sold at a premium, ranging between Rs. 13,500–14,000 per tola in local markets.

Despite high demand for both metals, gold remains in abundant supply in Pakistan, with investors leading market trends, while jewellery buyers appear less active. Market rates vary, with jewellery shops offering slightly lower prices than official rates, mainly influenced by demand and supply dynamics.

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Fire Safety Audit
CategoriesDevelopments News Urban Developments & Planning

Punjab CM Orders Fire Safety Audit After Tragic Gul Plaza Blaze in Karachi

LAHORE: In response to the tragic fire that claimed 26 lives at Karachi’s Gul Plaza, Punjab Chief Minister Maryam Nawaz Sharif has directed a province-wide audit of fire safety systems in both public and private buildings. The audit is part of a broader initiative to ensure public safety and prevent similar disasters.

The Chief Minister expressed her grief over the incident and extended condolences to the victims’ families. She urged the immediate implementation of safety measures, stating that fire safety systems in all buildings must be regularly inspected and upgraded where necessary.

As part of her ongoing efforts to improve infrastructure, CM Maryam Nawaz also announced a series of urban development initiatives. These include fully reconstructing roads after excavation for sewerage and drainage projects and ensuring that pits dug during development work are properly covered and fenced to avoid accidents.

The Chief Minister further emphasized the importance of transparency in ongoing development projects. Under the Punjab Development Plan (PDP), she highlighted that Phase-I projects had saved the government Rs 2.8 billion through effective transparency measures.

CM Nawaz also outlined plans for major sewerage, drainage, and water storage projects across various districts, including Sargodha, Dera Ghazi Khan, and Gujrat, as well as for developing green spaces and utility corridors in urban areas.

Punjab Emergency Services Minister Khawaja Salman Rafique also called for the complete enforcement of the Building Safety Regulations 2022, following a survey of 2,214 high-rise buildings in the province. He revealed plans to extend firefighting services to 39 additional tehsils, with an investment of Rs 2 billion. Rescue 1122 has already responded to over 280,000 fire emergencies, saving an estimated Rs 768 billion in potential damages.

These measures reflect the Punjab government’s commitment to improving public safety and urban infrastructure across the province.

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CategoriesNews Construction Developments Urban Developments & Planning

Rawalpindi Ring Road Project & Transport Terminals Relocation: A Comprehensive Development Plan

In a major move to alleviate traffic congestion and improve infrastructure, the Rawalpindi Development Authority (RDA) is making significant progress on the Rawalpindi Ring Road Project and the relocation of 44 key transport terminals. The dual initiatives are set to reshape the city’s traffic management, boost regional connectivity, and transform Rawalpindi’s transport landscape.

Rawalpindi Ring Road: Progress and Impacts

construction site of ring road Rawalpindi

The Rawalpindi Ring Road, a crucial part of the city’s transportation overhaul, is a 38.3-kilometre, six-lane highway designed to connect key zones in Rawalpindi and Islamabad. The project aims to reduce congestion and improve access to regional economic zones.

  • Current Progress: As of the latest reports, the project is 70% complete, with structural work, road surfacing, embankments, and drainage systems progressing steadily. Key sections, including the Banth to Thallian Interchange, are already under construction.
  • Revised Timeline: The Rawalpindi Ring Road, initially slated for completion by December 2025, now has a new deadline of March 2026. The project’s total cost has been revised upwards to Rs. 50 billion due to the redesigning of the Thallian Interchange, a critical junction connecting the Ring Road to the M-2 Motorway.
  • Expected Benefits: The Ring Road will significantly ease traffic congestion in Rawalpindi, improve access to major highways, and facilitate smoother connectivity to Islamabad. Once completed, it will reduce traffic volume on city roads, benefiting both commercial and commuter traffic.
  • Project Management: The construction is being carried out by Frontier Works Organisation (FWO) under the oversight of the Rawalpindi Development Authority (RDA).

Relocation of Transport Terminals: Strategic Planning for Traffic Management

Pirwadhai Bus Stand

In line with the vision to streamline Rawalpindi’s transport system, the Punjab government has approved the relocation of major transport terminals to areas near the Rawalpindi Ring Road. This move aims to reduce traffic congestion within the city, particularly from heavy transport vehicles.

  • Pirwadhai Bus Stand: The prominent Pirwadhai General Bus Stand, along with other terminals, will be shifted to a more centralised location along the Ring Road. This relocation will accommodate inter-district buses and intra-city transport, improving traffic management and passenger operations.
  • New Terminal Locations: Other transport terminals, including those at Faizabad and Chungi No. 26, will also be closed, with all long-distance and goods transport hubs moved to strategic locations along the Ring Road.
  • Key Routes:
    • Transport coming from Peshawar will now operate from a new terminal near Islamabad Airport.
    • Vehicles from Azad Kashmir via Murree will stop at Bharakahu, while those coming from other districts will enter through Rawat.
  • Traffic and Fare Adjustments: The relocation will impact local travel. Fares for intra-city buses will range from Rs. 20 to Rs. 50, while passengers travelling to the newly relocated terminals may experience changes in travel time.
  • Policy Changes: To complement the relocation, the Punjab government will enforce a ban on heavy transport vehicles entering the city’s core. Any violating vehicles will face impoundment. Public transport buses and wagons will ferry passengers from the Ring Road terminals into the city centre, offering seamless connectivity.

Long-Term Impact: Urban Mobility and Economic Growth

ring road aerial view

Both the Rawalpindi Ring Road Project and the relocation of transport terminals are part of a comprehensive urban development strategy. By reducing congestion and improving connectivity, these initiatives are expected to enhance the city’s overall mobility, improve air quality, and stimulate local economic growth.

  • Environmental and Aesthetic Benefits: The Ring Road project incorporates green initiatives, including the creation of green belts, better drainage systems, and improved traffic safety measures. These will contribute to a cleaner, more sustainable urban environment.
  • Public Response: While many residents welcome the plan for its long-term traffic management benefits, some have expressed concerns about longer travel distances and the costs of relocating terminals. However, the shift is being framed as a necessary step to manage Rawalpindi’s increasing population and transport demands.

A Vision for a Modern Rawalpindi

With Rs. 50 billion invested in the Rawalpindi Ring Road Project and additional resources allocated for terminal relocations, the city is witnessing one of its most significant infrastructural transformations. 

The development of this vital infrastructure will not only ease traffic congestion but will also position Rawalpindi as a model for modern urban mobility in Pakistan.

As the project progresses towards its 2026 completion, Rawalpindi’s residents and visitors can look forward to enhanced connectivity, reduced travel times, and a cleaner, more efficient transport system.

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CategoriesNews Construction Urban Developments & Planning

RDA Launches Major Beautification Project along Grand Trunk Road

RAWALPINDI: The Rawalpindi Development Authority (RDA) has officially launched a significant beautification project along the Grand Trunk Road, covering the stretch from Defence Housing Authority (DHA) Phase-I to Phase-II, as well as the area in front of Bahria Town. The project, which aims to transform this key corridor into an aesthetically pleasing and environmentally friendly route, has commenced under the directives of RDA Director General Kinza Murtaza.

The beautification efforts will include extensive plantation, the creation of green belts, and various aesthetic enhancements, such as painting and the installation of decorative pools. These improvements are designed to not only elevate the visual appeal of the area but also to contribute to environmental sustainability.

Director General Kinza Murtaza emphasised that the project aligns with the vision of Chief Minister Maryam Nawaz Sharif for Rawalpindi, focusing on a blend of beauty, functionality, and long-term sustainability in urban development. To ensure the project’s success, Murtaza has directed all relevant directorates to complete the work within the specified timeframe, uphold strict quality standards, and establish ongoing monitoring and maintenance protocols.

The beautification of the Grand Trunk Road is expected to significantly enhance the city’s aesthetic and environmental landscape, making it a more attractive route for both residents and visitors. The project is also aimed at contributing to Rawalpindi’s overall development strategy, improving the quality of life for its residents.

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CategoriesConstruction News Urban Developments & Planning

Kachehri Chowk Project Set to Open by April 30 with New Completion Deadline

RAWALPINDI: The remodelling of Kachehri Chowk in Rawalpindi is progressing with a new deadline set for completion by April 30. The project, which includes the construction of two flyovers and three underpasses, is expected to open the busy junction to traffic by this date, following directives from the Punjab government.

According to Punjab Highway Department Executive Engineer Qamar Ali Saqib, over 45% of the work has been completed. Structural work, including the guide beam and piling at Kachehri Chowk and the Jinnah Park underpass, will be finished before Eid-ul-Fitr. The Frontier Works Organisation (FWO) is working around the clock to ensure the project meets its revised deadline.

The project includes several key features, such as a four-lane flyover between The Mall and Rashid Minhas Road, and underpasses at Kachehri Chowk and Mushtaq Baig Shaheed Road, aimed at managing traffic flows of over 250,000 vehicles daily. The total cost of the Kachehri Chowk flyover and underpass project is Rs5.974 billion, while the Annexy Chowk (Jinnah Park) project carries a budget of Rs4.672 billion.

In addition to roadwork, the Punjab Highway Department is collaborating with the Rawalpindi Parks and Horticulture Authority to enhance green spaces around the new flyovers and underpasses. Plantations will begin next month after the completion of road construction.

On Peshawar Road, work is underway to relocate electricity pylons for the construction of three underpasses at Race Course Park, Army Graveyard Square, and Charing Cross Square. The Rs8 billion project is designed to improve traffic flow for 250,736 daily commuters.

The remodelling of Kachehri Chowk and associated projects are expected to significantly ease traffic congestion and improve infrastructure in Rawalpindi.

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FBR Valuation Bombshell
CategoriesNews Taxes

FBR Valuation Bombshell: Islamabad Property Rates Surge in 2026

ISLAMABAD: A major revision to Islamabad’s property valuation rates, first announced in December 2025, is once again being widely discussed in early 2026 due to its expected impact on taxes and real estate transactions. 

The Federal Board of Revenue (FBR) has sharply increased property valuation rates across the Islamabad Capital Territory (ICT) for 2026. The revision has surprised buyers, sellers, and investors. Many fear it will raise the overall cost of buying and selling property.

The increase was introduced through notification S.R.O. 2392(I)/2026. According to the updated valuation tables, rates have risen by 150% to 200% in many locations. The new valuations apply to 68 residential, commercial, and rural localities across Islamabad. Premium sectors and major housing schemes are among the most affected.

A major change is the introduction of a dual taxation approach. Property owners will now face tax calculations on both land value and superstructure (construction). FBR has also introduced fixed superstructure valuation rates. Buildings up to five years old will be assessed at Rs. 4,000 per square foot. Older structures will be valued at Rs. 3,000 per square foot.

In central Islamabad, the highest residential plot valuation is in Sector E-7, set at Rs. 600,000 per square yard. Sectors F-6 and F-7 are valued at Rs. 500,000, while F-8 stands at Rs. 450,000 per square yard. Other sectors such as F-10, F-11, and G-6 are valued at Rs. 350,000.

Commercial plots have seen the steepest jump. Valuations in E-7, F-6, F-7, and F-8 have reached Rs. 2.5 million per square yard. This is expected to affect commercial leasing and new construction plans.

Farmhouse and industrial areas have also been revised upward. Chak Shahzad farmhouses are now valued at Rs. 11.2 million per kanal. Industrial zones like I-9 and I-10 have been valued up to Rs. 18 million per kanal.

Market experts expect a short-term slowdown in transactions. Many investors may wait for clarity before making deals. The policy is seen as part of broader efforts to document real estate and increase tax collection.

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Karachi to Chaman
CategoriesDevelopments News Urban Developments & Planning

Karachi to Chaman: New Highway Project Aims to Save Lives

KARACHI: Prime Minister Shehbaz Sharif has announced that construction work on the Karachi–Chaman highway has officially started. He said the project will be completed in one year. Earlier, it was expected to take two years.

The prime minister called the highway a major step for safer travel. He said the current route has a long history of deadly accidents. The new highway will improve road safety and regional connectivity.

PM Sharif told the federal cabinet that he recently visited Quetta. He laid the foundation stone of the highway there. The road will be nearly 850 kilometres long. It will link Karachi to Chaman through key areas of Balochistan.

He said the project will cost around Rs400 billion. The entire cost will be paid by the federal government. He explained that funds were arranged through savings. These savings came when the government did not reduce fuel prices despite falling global oil prices. He said this money is now being used for national development.

The prime minister also highlighted support for farmers. He said a Rs75 billion agricultural package for Balochistan has been completed. Out of this, Rs50 billion was provided by the federal government. He added that solar energy solutions are being introduced to reduce dependence on unreliable electricity. Farmers can now irrigate their lands using solar panels.

He also shared updates about Daanish schools in the province. He said construction has begun and contractors are mobilised. He added that the plan has expanded from five schools to seven. The goal is to improve education and opportunities in underserved areas.

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CategoriesConstruction Developments News

Karachi’s Jahangir Road to Undergo Major Overhaul in 60 Days

KARACHI: Jahangir Road, a vital link between two districts in Karachi, is set for a major reconstruction. The road has long suffered from severe damage and drainage problems, affecting residents and commuters.

At the foundation-laying ceremony on Wednesday, Mayor Karachi Barrister Murtaza Wahab highlighted the importance of this project. He noted that while the road was initially built by the Karachi Development Authority (KDA), it had been repeatedly damaged during rains due to outdated drainage systems.

This time, the Karachi Metropolitan Corporation (KMC) will fully fund the reconstruction. The project will not only rebuild the road but also replace the old sewerage system. Stormwater drains will be added on both sides to prevent future flooding.

The road will feature a 3-inch asphalt base, a 2-inch asphalt concrete wearing course, and 50,000 square feet of new carpeting. Additionally, 2,000 feet of stormwater drains will be constructed, along with 252,000 square feet of 80mm paver blocks.

The original project timeline was 90 days, but it has been shortened to 60 days to reduce public inconvenience. Work will continue day and night to meet the deadline.

Once completed, the road will improve traffic flow, drainage, and overall infrastructure for local residents. This project is part of a larger initiative to develop over 400 roads across the city, with a total budget of Rs. 46 billion.

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CategoriesEconomy News

Gold Hits New Peak in Pakistan After Rs9,000 Jump

KARACHI: Gold prices in Pakistan extended their rally on Tuesday, supported by strong local demand and a firm upward trend in international bullion markets amid ongoing global uncertainty.

According to data released by the All Pakistan Gems and Jewellers Association (APGJA), the price of gold surged by Rs9,000 per tola to Rs481,862, while the rate for 10 grams increased by Rs771 to Rs413,118.

Market experts attributed the continued rise to volatility in international markets and concerns over the global economic outlook, prompting investors to seek safe-haven assets. On the international front, gold prices edged up by $9, trading at $4,595 per ounce.

Traders said the local bullion market remains closely linked to international price movements, with domestic rates also influenced by currency fluctuations and investor sentiment, as gold continues to attract buyers amid heightened uncertainty.

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