News

HomepageNews

Category: News

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 Economy

SBP Finalises Arrangements for Eid-ul-Fitr Currency Note Distribution

ISLAMABAD: The State Bank of Pakistan has issued a comprehensive advisory ahead of Eid-ul-Fitr 2026, urging citizens to use official banking channels to obtain new currency notes and to refrain from purchasing them from black-market vendors at inflated prices.

The central bank confirmed that arrangements for the distribution of freshly printed currency notes were finalised ahead of the festive season, with Eid expected around March 20. Citizens are encouraged to submit their requests well in advance to avoid last-minute difficulties.

The SBP has outlined several official methods for the public to obtain new notes. The primary channel is the bank’s dedicated SMS service on the short code 8877, which is activated during the second week of Ramadan. Citizens are required to send their CNIC number and preferred bank branch code to 8877, after which the system generates a unique transaction code along with the address of the designated branch.

Upon visiting the specified branch, citizens must present their original CNIC and a photocopy for verification. The SBP has explicitly stated that no additional charges or service fees are applicable during this process. In addition to branch services, many commercial banks load newer denomination notes, particularly Rs500 and Rs1,000 bills, into ATMs during the final ten days of Ramadan. SBP Banking Services Corporation offices in major cities, including Karachi, Lahore, and Islamabad, also distribute new notes on a first-come, first-served basis.

Despite the availability of official channels, a segment of the public continues to turn to open-market vendors for convenience or due to limited bank quotas. Authorities have flagged that traders are selling new notes at significantly inflated premiums and have called upon citizens to report such illegal activity to the relevant authorities.

The SBP has reaffirmed its commitment to ensuring smooth and equitable access to new currency notes for all citizens during the Eid festivities.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Climate Change Property Real Estate Urban Developments & Planning

CDA Launches Pre-Monsoon Plan to Prevent Urban Flooding in Islamabad

ISLAMABAD: The Capital Development Authority (CDA) has initiated a series of pre-monsoon measures to prevent urban flooding in Islamabad, following the severe flood damage the city experienced last year.

A high-level meeting chaired by CDA Chairman Muhammad Ali Randhawa brought together board members, senior engineers, environmental officials, and representatives of the Islamabad administration to formalize an emergency preparedness strategy ahead of the upcoming monsoon season.

Among the primary decisions taken was the removal of illegal encroachments along nullahs and streams, which have long obstructed the natural flow of water across the capital. Authorities also resolved to map all areas that experienced rainwater accumulation during last year’s flooding, particularly around Saidpur, the Sohan River, and Nullah Korang.

The Capital Emergency Service has been designated as the lead department during the monsoon period. In preparation, the department has already conducted water rescue training for its personnel in collaboration with Chinese experts and the Pakistan Navy. Staff have additionally been trained to respond to flash flooding scenarios. Specialised water rescue teams, each comprising 12 members, have been formed to handle emergencies.

Further measures include the establishment of a dedicated flood control room to facilitate inter-departmental coordination, the identification of low-lying and flood-prone areas across the city, and the deployment of an effective early warning system. Authorities have also been directed to ensure the availability of water pumps and dewatering equipment ahead of both the pre-monsoon and monsoon periods.

CDA Chairman Randhawa emphasised that thorough planning before the arrival of the monsoon season is essential and that pre-emptive measures must be guided by last year’s experience.

Islamabad has been increasingly affected by climate change in recent years, with urban flooding and extreme weather events posing growing challenges to the city’s infrastructure and residents.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Construction Developments Urban Developments & Planning

RDA Breaks Ground on Faizabad Interchange Slip Road Project

RAWALPINDI: The Rawalpindi Development Authority (RDA) has initiated construction work on a slip road rehabilitation project at Faizabad Interchange, marking a significant step toward alleviating persistent traffic congestion in one of the city’s busiest transit corridors.

The project, valued at Rs. 15.490 million, falls under the supervision of the RDA Engineering Directorate and was set in motion following directives from Rawalpindi Commissioner and RDA Director General, Engineer Aamir Khattak. The inauguration was presided over by Raja Hanif, Chairman of the Chief Minister’s Inspection Team, Punjab, and Provincial Assembly member for constituency PP-17.

Works outlined under the project include the repair and rehabilitation of the existing slip road surface, alongside the installation of informational signboards at designated points around the interchange. The signage is intended to streamline vehicular movement and reduce navigational confusion during peak hours.

Authority officials stated that upon completion, the infrastructure improvements will contribute to smoother traffic regulation at the interchange, providing tangible relief to the thousands of daily commuters passing through the area. The project is also seen as part of RDA’s wider mandate to modernize urban road infrastructure across Rawalpindi.

Faizabad Interchange, which serves as a critical junction connecting Rawalpindi and Islamabad, has long been a flashpoint for traffic bottlenecks, particularly during rush hours. Civic authorities have faced mounting pressure to address the interchange’s deteriorating road conditions and inadequate directional guidance for motorists.

Officials confirmed that work is progressing on schedule and expressed confidence in meeting the project’s completion timeline. The RDA further indicated that several additional development schemes targeting urban mobility are currently in the pipeline for the region.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Construction Developments Mass Transit Real Estate Transport Urban Developments & Planning

Swat Motorway Phase-II Construction Officially Underway

ISLAMABAD: The provincial government has commenced construction on Phase-II of the Swat Motorway, initiating a project expected to significantly improve road connectivity and boost tourism across the Swat Valley.

Officials confirmed the launch, describing it as a key milestone in the government’s broader push to modernize transportation infrastructure throughout Khyber Pakhtunkhwa. The Chief Minister stated that the motorway would ease travel across the region while generating new economic opportunities for local communities through increased visitor numbers and investment.

Authorities have linked the project to a wider provincial strategy aimed at reducing barriers to trade and development. Improved road access, officials noted, is expected to benefit multiple sectors, with tourism identified as a primary driver of anticipated growth.

The government has emphasized its commitment to quality construction and timely delivery. However, no specific completion date or project budget has been made public at this stage.

Local stakeholders have responded positively to the announcement, citing longstanding demand for reliable road infrastructure in the area. The motorway is expected to make the Swat Valley more accessible to both domestic and international visitors, strengthening its position as one of the province’s key tourism destinations.

Provincial authorities say construction will proceed under direct government supervision, with progress subject to ongoing review.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Economy Transport

Petrol Prices Soar by Rs55 Per Litre as Global Oil Shock Hits Pakistan

ISLAMABAD: Pakistan witnessed an unprecedented surge in petroleum prices after the federal government announced a massive Rs55-per-litre increase in both petrol and diesel.

The price of petrol has risen from Rs266.17 per litre to Rs321.17 per litre, while diesel now costs Rs335.86 per litre, up from Rs280.86 per litre. Officials say the decision was driven primarily by a sharp rise in global oil prices amid escalating tensions in the Middle East, particularly the ongoing conflict involving Iran.

International oil markets have reacted strongly to regional instability, with crude prices nearing $100 per barrel. As an oil-import dependent country, Pakistan remains highly vulnerable to fluctuations in global energy markets. A significant portion of the country’s oil imports passes through the Strait of Hormuz, a strategic maritime route that has been affected by the conflict.

The government has also revised the petroleum development levy (PDL) as part of the price adjustment. The levy on petrol has been increased by Rs20, bringing it to around Rs105 per litre, while the levy on diesel has been reduced by Rs20. Authorities argue that the adjustments were necessary to manage fiscal pressures and maintain revenue targets.

The announcement triggered widespread concern among citizens. Long queues were reported at petrol pumps in several cities as motorists rushed to purchase fuel before the new prices. The government is also reviewing potential fuel conservation measures, including remote work arrangements and online classes, though no immediate implementation has been announced.

Analysts warn that the sharp increase in fuel prices could further intensify inflationary pressures, affecting transportation costs, food prices, and overall economic stability in the coming weeks.

For more news on the economy, real estate, and development, visit Chakor Ventures.

China-Pakistan Economic Ties
CategoriesNews Economy Investment

China-Pakistan Economic Ties Deepen with Proposed $10B Aerospace Investment

ISLAMABAD: A Chinese aerospace investment group is considering a major investment between $5 billion and $10 billion in Pakistan, signaling growing international interest in the country’s industrial and technology sectors. The proposal was discussed during a meeting between the Federal Minister for Investment and the Chairman of the Board of Investment (BOI), Qaiser Ahmed Sheikh, and a delegation from China’s Aerospace Development Industry Investment Group Co.

The delegation was led by the company’s chairman, Lu Jinhai, who expressed the group’s interest in exploring large-scale investment opportunities across several key sectors of Pakistan’s economy. According to officials, the potential investment could cover areas such as mining and mineral development, advanced technology industries, and broader industrial expansion.

Government representatives highlighted Pakistan’s strategic advantages as an investment destination, emphasizing its geographic position connecting South Asia, Central Asia, and the Middle East. Officials also noted the country’s large domestic market of more than 240 million people and a young, growing workforce capable of supporting technology-driven industries.

During the meeting, both sides also discussed opportunities for collaboration in emerging sectors, including artificial intelligence, electric vehicles, drone technology, and renewable energy projects. Such investments, if finalized, could significantly contribute to Pakistan’s efforts to modernize its industrial base and strengthen its technological capabilities.

These programs would aim to train local workers and engineers in advanced technologies, helping build a more skilled workforce to support future industrial growth. The potential investment is also seen as aligning with broader regional economic initiatives, particularly those connected to China’s Belt and Road framework, which aims to expand infrastructure, trade, and connectivity across Asia and beyond.

Officials stated that discussions are still in early stages, but if realized, the proposed investment could mark one of the largest foreign commitments to Pakistan’s industrial and technology sectors in recent years, strengthening economic cooperation between the two countries.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Economy Trade Transport

Pakistan Moves to Safeguard Fuel Supplies Amid Global Oil Transport Crisis

ISLAMABAD: Pakistan is considering a series of emergency measures to manage petroleum supplies and pricing amid rising global uncertainty in oil transportation following disruptions linked to the Strait of Hormuz, one of the world’s most critical oil shipping routes.

According to officials, the government is evaluating the possibility of shifting from the current fortnightly petroleum price adjustments to a weekly review mechanism. The proposed change aims to enable quicker responses to rapidly fluctuating global oil prices and shipping costs. Authorities are also exploring options to compensate oil marketing companies for the sharp increases in shipping insurance and freight charges resulting from heightened geopolitical tensions in the region.

Government sources indicate that Pakistan currently holds more than 500,000 tonnes of petrol and diesel in stock, which is sufficient to meet national demand for approximately 25 to 26 days. Officials maintain that there is no immediate threat of a fuel shortage. However, precautionary measures are being implemented to safeguard supply chains and prevent potential market disruptions.

To secure continued energy imports, Pakistan has approached Saudi Arabia to facilitate oil shipments through alternative Red Sea routes, bypassing the Strait of Hormuz. In addition, Pakistan State Oil has reportedly issued import tenders for shipments that would avoid the affected maritime corridor.

The situation has also significantly increased the cost of importing fuel. Insurance premiums for oil shipments have reportedly surged from about $30,000 to nearly $400,000 per vessel, while freight costs have risen to over $4 million per shipment, up from roughly $900,000 previously.

Officials warn that if the rising import costs are not managed through policy adjustments, the price gap could reach around Rs45–50 per litre for diesel and Rs25–26 per litre for petrol.

A cabinet committee led by the finance minister is closely monitoring developments and reviewing options to ensure stable fuel availability while minimizing the economic impact on consumers and the broader economy.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Investment

Mobilink Bank, SEDF Launch Rs1 Billion Financing Initiative for SMEs in Sindh

KARACHI: Mobilink Bank has signed a five-year partnership agreement with the Sindh Enterprise Development Fund (SEDF) to improve access to financing for micro, small, and medium enterprises (MSMEs) across Sindh.

Under the arrangement, the collaboration will make up to Rs1 billion available to support businesses operating in priority economic sectors in the province. The initiative combines Mobilink Bank’s lending services with SEDF’s markup subsidy programme to help lower the cost of borrowing for entrepreneurs.

The financing facility will target a range of sectors, including agriculture value chains, livestock and dairy, poultry, fisheries, cold storage and logistics, renewable and alternative energy, mining and mineral processing, and innovation-driven information technology projects. The programme will also extend support to women-led enterprises.

Mobilink Bank will offer short-, medium-, and long-term financing options to eligible MSMEs. SEDF will provide a markup subsidy of up to one-year KIBOR or 10 percent, whichever is lower. The subsidy will initially apply for a period of three years, with the possibility of extension based on the programme’s performance.

Individual projects will be eligible to receive financing of up to Rs5 million, with flexibility for higher allocations in cases involving innovative business models.

Officials stated that the initiative is intended to strengthen financial access for small businesses and encourage economic activity across Sindh’s value-added industries. The partnership also reflects broader efforts to improve coordination between financial institutions and public sector programmes aimed at supporting enterprise development in the province.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews

CDA Moves to Upgrade Islamabad’s Waste Collection System with New Machinery

ISLAMABAD: The Capital Development Authority (CDA) has approved measures to enhance Islamabad’s sanitation system, including the procurement of modern machinery to improve garbage collection across the city. The decision was taken during a meeting chaired by CDA Chairman and Chief Commissioner of Islamabad, Muhammad Ali Randhawa, at the authority’s headquarters.

Officials reviewed a strategy aimed at strengthening both primary and secondary waste collection services. The CDA decided to address immediate gaps in equipment and manpower to improve efficiency in sanitation operations. A citywide cleanliness drive will also be launched as part of the broader plan.

Authorities were informed that additional waste containers will be installed in both urban and rural areas, while damaged units will be repaired. The number of waste trolleys will be increased, and more dustbins will be placed at designated locations to facilitate proper disposal.

A three-bin system will be introduced in commercial centres to support waste segregation and recycling. The CDA also plans to involve traders and local residents in cleanliness efforts through coordination mechanisms such as neighbourhood committees.

To strengthen enforcement, fines will be imposed on individuals or businesses found responsible for littering. The Islamabad Food Authority will monitor restaurants to ensure proper waste management practices.

The meeting also decided to establish a round-the-clock control room to oversee sanitation operations. Helpline numbers for complaints will be displayed on digital screens for public access. Field staff will be equipped with communication devices and new uniforms, and a registration process will be introduced for waste collectors operating in the city.

The measures are aimed at improving overall sanitation standards in the federal capital.

For more news on the economy, real estate, and development, visit Chakor Ventures.

CategoriesNews Economy Investment

PSX Trading Suspended After KSE-100 Falls Over 15,000 Points

KARACHI: Trading at the Pakistan Stock Exchange (PSX) was suspended for one hour on Monday after the benchmark KSE-100 index recorded a sharp decline of more than 15,000 points during intra-day trading.

According to market figures, the KSE-100 index dropped by 15,071.01 points, bringing it down to 152,991.15 points from the previous closing level of 168,062.16 points. The decrease represents a decline of 8.97 percent. Trading was halted temporarily in accordance with market regulations to manage volatility and prevent further losses.

The market downturn occurred amid heightened geopolitical tensions involving Iran, Israel, and the United States, which affected global financial markets.

In international energy markets, Brent crude oil prices rose approximately 10 percent in over-the-counter trading on Sunday, reaching around $80 per barrel. Prior to this increase, Brent had closed at $73 per barrel on Friday, marking its highest level since July. Analysts indicated that continued developments in the Middle East could influence further price movements in global oil markets.

For more news on the economy, real estate, and development, visit Chakor Ventures.