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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.

FBR Gets Formal Mandate to Levy
CategoriesNews Economy Tax

FBR Gets Formal Mandate to Collect PDL and Climate Support Levy

ISLAMABAD: The federal government has officially authorised the Federal Board of Revenue (FBR) to collect the Petroleum Development Levy (PDL) and Climate Support Levy (CSL) on petroleum products across Pakistan. The move formally designates the tax authority as a collection agent of the Ministry of Petroleum and Petroleum Division, marking a significant shift in the administrative handling of energy-related levies.

The development follows the issuance of SRO 800(I)/2026 by the FBR, which introduces key amendments to the Sales Tax Rules 2006. The notification establishes a revised collection mechanism under which the FBR will operate on behalf of the relevant ministries, streamlining the levy collection process within the existing legal framework.

A central feature of the new framework is the introduction of a Domestic Sales Invoice (DSI) system, designed to standardise reporting and strengthen compliance throughout the petroleum supply chain. Under this arrangement, all registered purchasers of petroleum products, including petrol pump operators, are now required to submit comprehensive transaction data in a prescribed format.

The mandatory disclosures include buyer details such as National Tax Numbers (NTN) and Computerised National Identity Card (CNIC) numbers, alongside HS codes, transaction dates, quantity sold in litres, total sales value, and separately itemised PDL and CSL amounts. Where exemptions or zero-rated supplies apply, relevant statutory references must also be provided.

The amendments specifically update Annexure-L of the monthly sales tax return form STR-7. Officials noted that the Climate Support Levy, introduced in the Finance Bill 2025 and effective since July 1, 2025, is intended to fund measures to address environmental and climate-related challenges.

Importantly, FBR officials clarified that no changes have been made to existing tax rates or the overall levy structure. The revision is purely administrative, aimed at improving documentation, transparency, and reporting standards across the petroleum sector.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Construction Urban Developments & Planning

Work on Sangjani Interchange to Be Fast-Tracked Ahead of July Deadline

ISLAMABAD: Interior Minister Mohsin Naqvi has directed the concerned authorities to complete the Sangjani Interchange on GT Road by July 31, 2026, as part of the Margalla Road–Motorway extension project in Islamabad.

During a visit to the project site, the minister reviewed the ongoing construction work and received a briefing from officials about the progress made so far. He instructed the relevant departments to speed up the work while ensuring quality standards are maintained.

The project covers a stretch of 2.7 kilometres and includes a three-lane road on both sides, along with a two-lane service road. Officials informed the minister that the project also includes the construction of a GT Road interchange, two underpasses, and a bridge.

The interchange is expected to improve traffic movement in the area and provide a smoother travel route for commuters using GT Road and nearby roads. Once completed, the project is likely to reduce traffic pressure and make daily travel easier for residents and road users.

Naqvi said public convenience should remain the main focus and directed officials to remove any hurdles causing delays. He stressed that the timely completion of the project would help improve connectivity and support better traffic management in the capital.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Economy Investment Property Property Taxes Real Estate Investment

Punjab Property Valuation Reforms Target UAE and Gulf Investors

LAHORE: Punjab has started revising property valuation rates across several districts to encourage investment from the United Arab Emirates and other Gulf countries.

The revision was initiated after directions from the Board of Revenue Punjab. District administrations are reviewing local property rates and aligning them with Federal Board of Revenue benchmarks for the upcoming fiscal year. The step aims to reduce tax-related hurdles in the real estate sector and make property transactions more practical for investors.

Officials believe that clearer and more balanced property valuation rules can improve investor confidence, particularly among UAE and Gulf-based investors interested in Pakistan’s real estate market.

The process is currently being carried out at the district level and is expected to affect property transactions in major urban centers. Real estate stakeholders have mixed views about the likely impact. Some expect the revised tax structure to increase buying and selling activity, while others believe the immediate benefits may mainly support large housing societies and major developers.

The changes are being prepared before the start of the new fiscal year. The revised valuation framework is expected to influence property taxes, transaction costs, and investment decisions across Punjab’s real estate sector.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Investment Real Estate Investment

Pakistan moves to reform REIT framework to attract investment

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed the government’s commitment to building a more open and investment-friendly environment, with a particular focus on strengthening Pakistan’s Real Estate Investment Trust (REIT) sector and broader capital markets.

Aurangzeb made these remarks while chairing a virtual meeting of the Focus Group on Incentivising and Facilitating the Growth of Real Estate Investment Trusts. The meeting was attended by prominent business figures, including Arif Habib, Nadeem Riaz, and Ali Jameel, along with officials from both the public and private sectors.

The minister noted that REITs offer a structured and transparent way to direct real estate investments into productive sectors of the economy. He also highlighted their role in promoting documentation and supporting the formalisation of the real estate, construction, and development sectors.

Discussions during the meeting focused on simplifying tax systems, easing regulatory procedures, and increasing investor participation, particularly from small investors, to help grow the REIT market.

Participants acknowledged that while Pakistan’s REIT sector has made some initial progress, significant room for growth remains. Officials noted this potential can be unlocked through better coordination, regulatory clarity, and the removal of administrative hurdles.

Officials also stressed the need to align Pakistan’s REIT framework with international best practices, while keeping regulations simple enough to encourage broader adoption and attract both local and foreign investment.

The Securities and Exchange Commission of Pakistan and other relevant bodies have been directed to review taxation and regulatory issues and present actionable proposals to the government.

The government reiterated its commitment to ensuring a transparent, stable, and investor-friendly environment to support sustainable growth in the real estate sector.

For more news on real estate and special reports, visit Chakor Ventures.

New Safety Code for Construction Industry
CategoriesNews Construction Property Laws Real Estate

Pakistan Introduces New Safety Code for Construction Industry

ISLAMABAD: The Government of Pakistan has approved a national Code of Practice on Occupational Safety and Health (OSH) for the construction sector, marking a landmark advancement in worker protection across one of the country’s most hazardous industries.

Issued through a Statutory Regulatory Order (SRO), the Code establishes legally binding minimum safety and health standards for all construction activities, including building works, civil engineering projects, infrastructure development, and demolition operations. It applies to the full lifecycle of construction projects from planning and design through to execution and completion, ensuring that safety is embedded at every stage rather than treated as an afterthought.

A defining feature of the new framework is its explicit inclusion of informal and unregistered workers, who constitute a substantial proportion of Pakistan’s construction workforce. By extending legal protections to all workers regardless of employment status, the Code addresses longstanding gaps in labour rights enforcement and promotes non-discriminatory access to safety measures, including for migrant labourers and daily wage workers.

The Code was developed through a tripartite process involving government, employers, and workers’ representatives, co-led by the International Labour Organization (ILO) and the Pakistan Engineering Council (PEC). It aligns with internationally recognised standards, including the ILO’s global Code of Practice on OSH in construction, while being anchored in Pakistan’s existing regulatory framework.

To strengthen accountability, the Code introduces enhanced inspection mechanisms, clear compliance benchmarks, and defined enforcement responsibilities for both federal and provincial authorities.

Geir Tonstol, ILO Country Director for Pakistan, welcomed the development, noting that with enforceable standards now in place, the priority must shift firmly to implementation.

The Code will come into force one year after its official notification, allowing stakeholders time to align operations, build capacity, and prepare for nationwide adoption.

In this regard, Islamabad-based real estate developer Chakor Ventures has already demonstrated alignment with such national safety imperatives at its Citadel 7 project. The company maintains a robust “Safety First” culture across its construction operations, emphasising consistent adherence to safety protocols, proactive hazard identification, and preventive risk management. Chakor Ventures remains committed to completing its projects with an exemplary safety record, setting a positive benchmark for the private sector. 

For more news on real estate and special reports, visit Chakor Ventures.

20-Day Deadline to Put All CDA Records Online
CategoriesNews Construction Developments Property Real Estate

Naqvi Sets 120-Day Deadline to Put All CDA Records Online

ISLAMABAD: Interior Minister Mohsin Naqvi has issued a formal directive ordering the complete digitization of all Capital Development Authority (CDA) records within 120 days, a move aimed at enhancing administrative transparency and streamlining public service delivery. Once implemented, citizens will be able to monitor the status of their applications through an online portal, eliminating the need for in-person follow-ups.

The directive was issued during a high-level meeting chaired by Naqvi, in which officials reviewed ongoing development projects in the federal capital and deliberated on new urban initiatives. The minister categorically stated that no illegal housing societies would be tolerated within Islamabad’s limits, signalling a firm stance against unauthorized land use and encroachments.

Among the significant announcements, three international firms have been pre-qualified for the construction of a new convention center, an expo center, and the Islamabad Arena. Authorities have been instructed to ensure the timely completion of these projects in advance of the Shanghai Cooperation Organization (SCO) summit, underscoring their strategic importance at the diplomatic level.

On the recreational front, the minister outlined an ambitious plan to modernize leisure facilities across the capital. A dedicated service center is to be established in the F-6 sector, while construction is set to begin on several public attractions, including a top golf facility, hot air balloon rides, a zip line, a water park, and an amusement park.

Additionally, Naqvi directed that F-9 Park be transformed into a world-class recreational space modelled after London’s Hyde Park, and called for a comprehensive entertainment development plan for the area around Shahdara Dam.

Infrastructure improvements were also addressed, with beautification and lighting work on the Expressway and Club Road scheduled to commence immediately. The CDA chairman confirmed that construction on the Expressway service road will proceed upon receipt of formal approval from the Planning Division.

Naqvi commended CDA officials for their role in exposing internal corruption and made clear that those found involved in malpractice would face strict accountability without exception, reaffirming the government’s commitment to institutional reform and good governance.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Economy Investment

Gold Slips Sharply, Per Tola Price Down by Rs8,900

KARACHI: Gold prices fell sharply by Rs. 8,900 in Pakistan on Tuesday, following a major decline in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola dropped by Rs8,900 and reached Rs485,062. The price of 10 grams of gold also went down by Rs7,630 to Rs415,862. In the international market, gold prices decreased by $89 per ounce and settled at $4,627.

Silver prices also recorded a decline. The international price of silver fell by $2.38 per ounce to $73.27. In Pakistan, silver dropped by Rs238 per tola to Rs7,811, while the price of 10 grams of silver fell by Rs204 to Rs6,696.

The decline came after recent ups and downs in the bullion market. A day earlier, gold prices in Pakistan had increased by Rs800 per tola to Rs493,962, while the price of 10 grams had risen by Rs686 to Rs423,492.

Market experts said gold prices are being affected by changes in global markets, uncertainty in the world economy and tensions between the United States and Iran. Investors often move towards gold during uncertain times, but prices can also fall quickly when market conditions change.

The latest decline shows that gold prices remain highly unstable, both locally and internationally. Traders and buyers are expected to closely follow global market trends before making major buying or selling decisions.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Construction Economy Investment Real Estate Trade Urban Developments & Planning

President Zardari Pushes for China Ties in Construction Machinery and Engineering

ISLAMABAD: President Asif Ali Zardari has called for stronger industrial cooperation with China, with special attention to construction machinery, engineering and technology transfer.

During his visit to Hunan province, President Zardari toured SANY Heavy Industry, a major Chinese manufacturer of heavy construction machinery. He was briefed on the company’s advanced manufacturing systems, production capacity, research work and use of digital technology.

The visit focused on possible cooperation between Pakistan and China in engineering, construction machinery, investment and technology transfer. These areas are important for Pakistan’s infrastructure development, where modern machinery and better technical skills can help improve project quality and efficiency.

The demand for better construction methods is also visible in Pakistan’s urban property market, especially in Islamabad’s Blue Area, where projects such as Citadel 7 and Citadel One3 reflect the move towards vertical, mixed-use and technology-driven real estate development.

President Zardari stressed the need to promote industrial technology, skills development and joint ventures. He said such partnerships could support Pakistan’s infrastructure and industrial growth. He also pointed to possible cooperation in construction machinery, digital manufacturing, renewable energy and engineering.

SANY Group Chairman Tang Xiuguo expressed interest in expanding cooperation with Pakistan in manufacturing, technology exchange and capacity building.

For Pakistan’s construction sector, closer cooperation with Chinese companies could improve access to modern equipment and technical knowledge. It may also help build local capacity through joint ventures and skills training.

The visit also fits into wider Pakistan-China cooperation, including industrial development and CPEC 2.0, which Hunan officials said they would continue to support.

For more news on real estate and special reports, visit Chakor Ventures.

CategoriesNews Property Property Laws Property Taxes Real Estate

LDA Eases Property Transfer Costs With New Penalty Relief Rule

LAHORE: The Lahore Development Authority (LDA) has announced a significant change in how penalties are calculated for property owners involved in transfer and No Objection Certificate (NOC) cases, offering considerable financial relief to citizens across the city.

Under the revised policy, penalties will now be calculated based on the property rate at the time of the original plot allotment, rather than the current District Collector (DC) rates. This change marks a notable departure from the previous method, which many property owners found to be financially burdensome.

Previously, plot owners applying for NOCs or property transfers were charged heavy penalties calculated by including access area adjustments and applying current market rates, significantly increasing the financial burden on applicants.

Citizens had repeatedly raised concerns that they were being subjected to excessive fees during transfer and approval processes, even in situations where they were not directly responsible for discrepancies in land measurements.

Under the revised policy, any increase or decrease in the access area will now be assessed using historical rates from the year the plot was originally allotted. Officials believe this adjustment will bring greater fairness to the valuation process and reduce disputes between applicants and the authority.

The decision was taken following special working sessions conducted by LDA Director General Tahir Farooq and the Additional Director General (Housing), resulting in the preparation of a new policy framework. The policy has since been approved by the LDA Governing Body, and official minutes have been issued to implement the decision.

The reform is expected to benefit a large number of property owners in Lahore who have long faced disproportionate charges when seeking routine administrative approvals from the authority.

For more news on real estate and special reports, visit Chakor Ventures.

Revised Operating Rules for PRISM+
CategoriesNews Economy

SBP Issues Revised Operating Rules for PRISM+, Replacing 2018 Framework

KARACHI: The State Bank of Pakistan (SBP) has issued comprehensive revised operating rules for PRISM+, the Pakistan Real-Time Interbank Settlement Mechanism Plus, in a move aimed at reinforcing the country’s financial market infrastructure and aligning it with international best practices.

The revised rules take effect immediately and supersede the earlier PRISM Operating Rules issued under PSD Circular 02 of 2018, reflecting the significant technological and operational advancements made since that framework was established.

PRISM+ was launched in June 2025 as SBP’s upgraded Real-Time Gross Settlement (RTGS) system. A key feature of the new system is the integration of the Central Securities Depository (CSD) module with the funds settlement system, expanding the platform’s operational scope to encompass both high-value interbank fund transfers and government securities operations under a single, unified infrastructure.

The revised rulebook covers a broad spectrum of operational areas, including participation criteria, messaging standards, funds and government securities settlement processes, liquidity and risk management controls, business-day arrangements, contingency provisions, and regulatory reporting requirements. Additionally, the rules govern the issuance, auction, trading, custody, and settlement of Government of Pakistan marketable securities, as well as related liquidity operations conducted through PRISM+.

The updated framework applies to all existing and future PRISM+ participants, encompassing scheduled banks, primary dealers, preliminary primary dealers, special purpose primary dealers, development finance institutions (DFIs), Islamic banks, Islamic banking branches, and any other institution authorised by the SBP to participate in government securities markets or settlement activities.

By consolidating various operational instructions issued over the years into a single comprehensive document, the SBP aims to enhance transparency, reduce systemic risk, and ensure that Pakistan’s core payment and securities settlement infrastructure operates at a standard consistent with global regulatory expectations.

For more news on real estate and special reports, visit Chakor Ventures.