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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 reportingโ€”only on Chakor News.

99% Tax Target
CategoriesNews Budget Developments Economy Property Property Taxes Tax

Punjab Hits 99% Tax Target, Plans FBR-Like Tax Body

LAHORE: Punjab’s government has announced plans to create a unified revenue authority modelled on the Federal Board of Revenue, consolidating all provincial tax streams under a single institutional framework during the upcoming fiscal year.

Finance Minister Mian Mujtaba Shujaur Rehman disclosed the initiative at a post-budget press conference on Wednesday, citing strong performance in the outgoing fiscal year as grounds for the reform. The province met 99 percent of its tax collection target, prompting officials to raise the revenue goal for FY 2026-27 by 46 percent. Own-source revenues are projected to grow between 30 and 40 percent, a gain the minister attributed to curbing corruption within tax administration and broadening the provincial tax base.

Under the new targets, the Punjab Revenue Authority has been assigned a collection goal of Rs528 billion, while the Excise and Taxation Department will aim for Rs124 billion. Non-tax departments are expected to contribute Rs461 billion, with the Mines and Minerals Department emerging as the leading performer in that category.

Rehman noted that only modest revisions to existing tax rates were proposed for the coming year, given current economic conditions. He explained that a Rs546 billion grant to the federal government had reduced Punjab’s development budget from Rs1,240 billion to Rs752 billion, though officials maintained that no development priorities were compromised.

Addressing reporters’ questions, the minister confirmed that proposed amendments to the agricultural tax, unchanged since 1998, would apply only to landholdings exceeding 12.5 acres.

Senior Minister Marriyum Aurangzeb, also present at the briefing, rejected claims that southern Punjab or the agriculture sector were being neglected, pointing to rising acreage and crop output. She further clarified that reports of a Rs145 billion traffic-fine target were inaccurate, stating that the actual figure is Rs45 billion. Officials added that documentation for 493 new development schemes, including a laptop distribution programme, would be finalised by June 30.

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real estate investment platform in pakistan
CategoriesNews Chakor Events Chakor Global Initiative Economy Partnerships Real Estate Investment

Chakor Global Initiative Brings Global Capital to Pakistan Through a First-of-Its-Kind Real Estate Investment Platform in Pakistan

Lahore, Pakistan โ€” June 17, 2026: Through the Chakor Global Initiative, Chakor brought a high-level Portuguese delegation from OLAE to Pakistan, giving local real estate developers direct access to international representatives and a rare opportunity to present their projects for potential foreign direct investment.

The world is looking at Pakistan.

Through a first-of-its-kind initiative, Chakor brought government-backed development authorities, international representatives, and private-sector developers together on one credible investment platform, turning international interest in Pakistan into direct investment opportunities.

The Chakor Global Initiative is establishing a new standard for an investment platform in Pakistan by creating direct connections between international capital and credible local projects.

The visiting Portuguese delegation included Prof. Dr. Jose Paulo Oliveira, President of OLAE; Dr. Carlos Alberto Ribeiro; Sueny Aline; and Dr. Muhammad Sohail.

Chakor Connects the Delegation with CBD Punjab

Leveraging its international network, Chakor connected the Portuguese delegation with the CBD Punjab team for a strategic meeting at CBD Lahore.

The delegation received a detailed briefing on the scale, vision, and investment potential of the Central Business District and explored opportunities for international participation in one of Punjabโ€™s most significant urban development initiatives.

Chakor also presented its premium residential project, Citadel Prime Lahore, outlining its vision, strategic location, commercial potential, and relevance to international investors.

Through this engagement, Chakor strengthened its position as a credible real estate investment platform in Pakistan, bringing together a government-backed development authority, international representatives, and private-sector projects on a single platform.

The meeting placed Lahoreโ€™s development potential directly before global decision-makers and created a clear path for future investment discussions.

Unlike a conventional angel investment platform in Pakistan or a digital real estate crowdfunding platform, the Chakor Global Initiative fosters direct, high-level engagement between project owners, institutions, international representatives, and investors.

It also opens new channels for international investors and Business Angels in Pakistan to identify credible opportunities and establish strategic partnerships with local developers.

An Exclusive Private Dinner for Pakistanโ€™s Decision-Makers

In the evening, Chakor hosted an exclusive private dinner and networking event for the Portuguese delegation and selected leaders from Pakistanโ€™s government, real estate, and business sectors.

The guests included Minister of Education Punjab Rana Sikandar, CEO of CBD Imran Amin, Salman Zafar of Linkers Development, and senior representatives from leading real estate developers and business figures across Pakistan.

The private setting enabled direct conversations between international representatives and Pakistani decision-makers. Guests discussed investment opportunities, strategic partnerships, project development, and future collaboration beyond the limitations of a conventional public event.

โ€œPakistan has the projects, talent, and potential to attract major international investment. Chakor is creating the direct connections required to turn that potential into partnerships, capital, and long-term growth.โ€

โ€” Muhammad Abbas Khan, CEO, Chakor

Exclusive networking and social events are being hosted by Chakor in Lahore and Islamabad, with limited seats available. Secure your place through the Chakor Global Initiative.

FBRโ€™s New Digital Mechanism
CategoriesNews Economy Property Taxes Tax

FBRโ€™s New Digital Mechanism Aims to Curb Prolonged Tax Litigation

ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a digital solution designed to expedite the resolution of tax disputes and curb prolonged litigation through a technology-driven process. The initiative was formalised under a new provision in the Finance Bill 2026, which empowers the FBR to establish a digital system to generate settlement offers for registered taxpayers prior to the issuance of final assessment orders.

The mechanism is intended to facilitate early resolution of tax proceedings by giving taxpayers an opportunity to settle disputes through a transparent, automated framework rather than pursuing lengthy adjudication.ย 

According to officials, the system-generated settlement offers will take into account several factors, including the stage of the proceedings, the taxpayer’s compliance history on record with the FBR, the nature of the identified discrepancy, and any other criteria the Board deems relevant.

Under the proposed framework, taxpayers who receive a settlement offer will have a ten-day window to accept it through the IRIS portal and deposit the specified settlement amount. Once payment is made, the issues raised in the relevant notice or audit report will stand abated, effectively closing those proceedings.

Commenting on the development, tax expert Arshad Shehzad said the mechanism has the potential to significantly reduce litigation, accelerate dispute resolution, and improve revenue collection by encouraging voluntary compliance.ย 

He noted, however, that the framework could be further strengthened by introducing an additional layer of review, suggesting that a specialised committee be established to examine taxpayers’ responses and objections before assessments are finalised, to ensure greater fairness and equity in the process.

Shehzad described the initiative as part of broader efforts to modernise Pakistan’s tax administration through technology-driven reforms, reduce compliance costs for taxpayers, and enhance certainty in tax matters.

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Construction Sector Bounces Back with 5.73% Growth
CategoriesNews Budget Construction Economy

Pakistanโ€™s Construction Sector Bounces Back with 5.73% Growth in FY2025-26

ISLAMABAD: Pakistan’s construction sector has emerged as one of the key drivers of economic recovery, registering a robust growth of 5.73% during FY2025-26, a remarkable turnaround from the modest 1.14% expansion recorded in the previous fiscal year. The figures were disclosed in the Pakistan Economic Survey 2025-26, released by the Ministry of Finance.

The significant acceleration in growth has been attributed to improved macroeconomic conditions, a stable exchange rate, declining inflation, and a notable rise in private investment, which surged by 12.8% during the same period. These combined factors created a more conducive environment for developers, contractors, and investors to expand their activities across the country.

The construction sector holds strategic importance in Pakistan’s economy owing to its deep linkages with more than 40 allied industries, including cement, steel, glass, ceramics, paints, electrical equipment, and transport services.

The sector’s upward trajectory consequently provided a significant boost to broader industrial performance. The industrial sector expanded by 3.51%, while large-scale manufacturing recorded an impressive growth of 6.11% during FY2025-26.

Demand for key construction materials, particularly cement and steel products, also rose considerably, reflecting the heightened pace of building and infrastructure activity across urban and semi-urban areas.

Pakistan’s growing population, which reached approximately 252 million in FY2025-26, has further intensified demand for housing, transportation networks, and urban infrastructure, providing sustained momentum to the sector.

Additionally, construction remains one of the highest-employment sectors in the economy. Its extensive supply chain supports skilled, semi-skilled, and unskilled workers, while also creating business opportunities for contractors, suppliers, and transporters.

Analysts view the sector’s strong performance as a positive indicator of broader economic stabilisation, noting that continued investment in infrastructure and housing will be critical to sustaining this growth trajectory in the years ahead.

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CategoriesNews Economy Property Property Taxes Real Estate Tax Urban Developments & Planning

Punjab Recovers Rs9.3 Million But Misses FY26 Property Tax Target

LAHORE: The Excise, Taxation and Narcotics Control Department has been unable to meet its property tax collection goal for FY2025-26, despite revising property valuation rates and widening the tax base earlier in the year. With two weeks left before the June 30 deadline, officials have shifted into emergency mode.
The Director General of Excise and Taxation has cancelled all staff leave and ordered field teams to stay on active recovery duty until the fiscal year closes. As part of the crackdown, officers across the department’s five property tax zones sealed 362 properties belonging to defaulters in a single week, recovering Rs9.3 million in unpaid dues over the same period.

Zone-IV Gujar Khan stood out as the best-performing area. Excise and Taxation Officer Abdul Qadir led recoveries in the zone, followed by ETO Asim Sardar and ETO Kulsoom Zahra.

At the other end of the scale, Zone-V, which covers several upscale neighbourhoods with large, high-value properties, posted the weakest recovery numbers. Officials say complaints have already been filed with the Director General over the reporting of allegedly bogus taxable properties from that zone, raising questions about data integrity within the system.

Field officers, however, remain hopeful. They say notices have been issued to all known defaulters and enforcement operations are running throughout the day across all zones.

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Finance Bill 2026-27
CategoriesNews Budget Economy Property Property Taxes Real Estate Tax

Government Reduces Property Transfer Taxes by 50% in Finance Bill 2026-27

ISLAMABAD: The Federal Government has announced a series of significant tax reductions in the Finance Bill 2026-27, aimed at revitalising Pakistan’s real estate sector and reducing the financial burden on property buyers and sellers nationwide.

Under the new measures, the advance tax on property sales has been reduced by half. Sellers on the Active Taxpayers List (ATL) will now pay a flat rate of 2.75% under Section 236C, down from the previous 5.5%. Similarly, buyers who are registered filers will benefit from a reduced advance tax rate of 1.25% on the fair market value of purchased properties under Section 236K, compared to the earlier rate of 2.5%.

In a landmark move, the Finance Bill officially abolishes Section 7E, which levied a deemed income tax on immovable properties by taxing owners on a notional 5% of income, regardless of whether the property generated any actual earnings.

The Federal Constitutional Court had already declared Section 7E unconstitutional and void ab initio in May 2026, and the Finance Bill now formally removes it from the statute books.

The government has also abolished the Capital Value Tax (CVT) on foreign assets held by resident Pakistanis. Previously, Pakistanis owning properties abroad were required to pay CVT on their declared foreign wealth. The removal of this tax is expected to encourage greater transparency and documentation of overseas assets.

Furthermore, the Finance Bill introduces important amendments to Section 76(8A) regarding inherited property. The cost of an inherited asset will henceforth be recorded at the fair market value on the date of the original owner’s death, ensuring that heirs are not subjected to capital gains tax on value appreciation that occurred prior to inheritance.

It is noteworthy that while registered filers receive considerable relief, non-filers and individuals on the Non-Active Taxpayers List will continue to face substantially higher punitive tax rates during property transactions, reinforcing the government’s broader strategy of incentivising tax compliance and expanding the documented economy.

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CategoriesNews Budget Economy Tax

PM Shehbaz Signs Federal Budget 2026โ€“27 Draft

ISLAMABAD: Prime Minister Shehbaz Sharif signed the Federal Budget 2026โ€“27 draft on Friday after chairing a federal cabinet meeting in Islamabad. Finance Minister Muhammad Aurangzeb is set to present it before parliament the same day.

The budget carries a total outlay of Rs17.1 trillion, with a GDP growth target of 4.1 percent, an inflation projection of 8.4 percent, and an FBR tax revenue target of Rs15.267 trillion. New tax measures between Rs660 billion and Rs700 billion are also expected.

Addressing the cabinet, the PM acknowledged that taxation would create hardship but described it as necessary to correct long-standing economic imbalances. He noted that inflation had fallen from 38 percent over the past two years and the policy rate had dropped from 22.5 percent to 11 percent, though regional instability from the Gulf crisis had slowed further progress.

Key Tax Proposals

The salaried class may receive up to Rs50 billion in income tax relief through revised slabs and reduced rates on monthly earnings above Rs183,400. A 2 percent cut in the super tax rate and removal of the 1 percent advance income tax on exporters are also under consideration.

For real estate, withholding tax on property purchases for filers may drop from 1.5 percent to 0.25 percent, while the seller tax could fall from 4.5 percent to 1.5 percent. The IMF has reportedly agreed in principle to support the property tax reductions. Non-filers are not expected to benefit.

The BISP quarterly stipend may rise from Rs13,000 to Rs14,500, with Rs838 billion allocated to the programme.

All four provincial governments endorsed the national development plan through the NEC ahead of the budget’s presentation. The PM also acknowledged support from coalition partners PML-N, PPP, MQM, IPP, BAP, and PML-Q in finalising the budget.

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Sources:

  • The Express Tribune
  • ARY News
  • Pakistan Observer
  • Pakistan Today
  • TechJuice
  • Bloom Pakistan
  • Daily Pakistan
  • Business Recorder
  • Pakistan Times
  • Lahore Real Estate
Unused Government Properties
CategoriesNews Developments Economy Property

Punjab Orders Audit of Unused Government Properties

LAHORE: The Punjab government has directed 12 public-sector institutions to compile and submit comprehensive details of vacant, unused, and underutilised state-owned residential and commercial properties as part of a broader strategy to achieve an ambitious revenue target of Rs500 billion for the upcoming fiscal year.

The directive was issued by the Housing, Urban Development and Public Health Engineering Department, which has contacted nine major development authorities across the province, including those operating in Lahore, Rawalpindi, Multan, Faisalabad, Sargodha, Bahawalpur, Gujranwala, Dera Ghazi Khan, and Koh-e-Suleman.

Additionally, the Ravi Urban Development Authority, the Punjab Housing and Planning Agency, and the Punjab Central Business District Development Authority have been included in the exercise.

According to the letter issued by the department, institutions are required to submit complete records not only of properties that remain vacant or underused, but also of state assets that have previously been sold, leased, auctioned, licensed, or otherwise utilised.

The scope of the survey further extends to identifying roads, corridors, and public areas with potential for commercialisation, accompanied by actionable recommendations for their possible use.

Each agency has been tasked with conducting a thorough assessment of land and property values within its jurisdiction, evaluating commercialisation prospects, and identifying concrete revenue-generation opportunities.

The institutions are also expected to prepare detailed action plans, complete with implementation timelines, to enable them to contribute meaningfully to their individually assigned revenue targets.

The initiative reflects the provincial government’s intent to activate dormant public assets rather than relying solely on conventional taxation measures to meet its fiscal obligations. By systematically cataloguing and monetising idle state properties, Punjab aims to create a sustainable and transparent mechanism for the utilisation of public resources.

Officials have indicated that the data collected through this exercise will form the foundation of a structured revenue mobilisation plan ahead of the next fiscal year.

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CategoriesNews Budget Economy Power/Energy Tax

From Solar to Stocks: Pakistanโ€™s Budget 2026-27 Promises Tax Continuity

ISLAMABAD: The federal government has decided to maintain existing tax rates on solar panels, stationery items, and the stock market in the upcoming Budget 2026-27, providing relief to consumers and investors who had feared potential increases.

According to senior tax officials, the earlier proposal to raise sales tax on solar panels from 10 to 18 percent has been formally withdrawn. This decision is expected to sustain the momentum of solar energy adoption across Pakistan, particularly among households and small businesses increasingly reliant on renewable energy solutions amid persistent power outages.

Similarly, the proposed hike in sales tax on stationery items will not be pursued in the forthcoming budget. The move is likely to be welcomed by students, educational institutions, and the stationery trade, which had raised concerns about the impact on affordability of any such increase.

Stock market taxation will also remain unchanged, effective July 1, 2026, offering a degree of stability to investors and market participants who have been closely monitoring pre-budget policy signals.

On the income tax front, the government intends to raise the threshold for the highest tax slab for salaried individuals. Simultaneously, the surcharge currently levied on the highest income earners is set to be abolished, representing a structural adjustment aimed at rationalising the direct tax framework.

A significant development for the export sector is the likely abolition of the one percent tax on exports. Highly placed officials confirmed that this relief measure forms part of a broader exporter support package to be announced in the budget speech. The industry has long advocated for the reinstatement of the Final Tax Regime with a one percent turnover tax, calling for protection from undue regulatory pressure.

The tax status of the real estate sector, however, remains under deliberation and has not yet been finalised.

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CategoriesNews Construction Developments Real Estate Urban Developments & Planning

Karachi’s Azeempura Flyover Set to Open After 100-Day Completion

KARACHI: Karachi is finally getting a new flyover. The Azeempura Flyover has been completed and will open to traffic within a week, Mayor Barrister Murtaza Wahab confirmed during a late-night inspection of the site.

The project was completed in 100 days, meeting a deadline set by Sindh Chief Minister Syed Murad Ali Shah. The main structure is fully built. Workers are now finishing the final touches, road surfacing, signage, and safety installations, before the bridge opens to the public.

The flyover connects Shahrah-e-Bhutto to the road leading toward Jinnah International Airport. This is one of Karachi’s most congested routes, and the new bridge is expected to ease traffic, especially during morning and evening rush hours.
The project was carried out by the Karachi Metropolitan Corporation (KMC) under the supervision of the Sindh government. Officials say this flyover is part of a larger plan to fix Karachi’s long-standing traffic problems. The city is also seeing work on signal-free corridors and road rehabilitation projects as part of the same drive.
Mayor Wahab confirmed the news on social media, saying the bridge construction is complete and the flyover will be opened for public use before the deadline.

For Karachi residents, this is welcome news. The city has struggled with severe traffic congestion for years, and infrastructure projects of this scale have often faced delays. Completing this one on time marks a rare and notable achievement for the city’s administration. The exact inauguration date has not been announced yet, but authorities expect it to be open within days.

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