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 Construction Developments Economy Urban Developments & Planning

Rawalpindi Ring Road Hits 98% Completion, Toll Plaza Remains Final Hurdle

RAWALPINDI: The Rawalpindi Ring Road project has reached 98 percent completion, with installation of the toll plaza the only major work remaining before the highway opens to traffic.

The update was shared during a review meeting chaired by the Rawalpindi Divisional Commissioner. Officials confirmed that the Punjab Ring Road Authority will install and operate the toll plaza, collect tolls at government-approved rates, and oversee traffic management on the route once operational.

Spanning 38.3 kilometres, the Ring Road has completed construction of its main carriageway, flyovers, subways, interchanges, bridges, and other civil infrastructure. Installation of road barriers, lane markings, signboards, and streetlights has also been finalized.

The Punjab government has released more than Rs. 29 billion for the project to date, with the remaining funds expected within one to two weeks, according to officials.

During the review, the commissioner directed authorities to expedite the outstanding work, accelerate landscaping and tree plantation along both sides of the corridor, and establish a dedicated policing and traffic management system ahead of the road’s opening.

Officials further confirmed that construction of the Thalian Interchange will proceed as a separate project once the Ring Road becomes operational.

Once functional, the Ring Road is expected to divert heavy traffic away from Rawalpindi’s urban core, easing congestion on GT Road, Peshawar Road, Murree Road, and other major arteries. Authorities anticipate the project will reduce travel times, cut fuel consumption, and lower vehicular air pollution across the city.

The project marks one of the most significant infrastructure undertakings in the twin cities in recent years, with completion now widely anticipated in the coming weeks.

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

Source:

CategoriesNews Climate Change Dams Environment Urban Flooding Weather

Flash Floods Cause Widespread Destruction Across Diamer District

GILGIT: Flash floods triggered by heavy rainfall have caused extensive damage across Diamer district, with disaster officials confirming flooding at six locations early Monday.

The floods damaged houses, the Karakoram Highway (KKH), link roads, crops, agricultural land, and public and private property. Flooding was reported in Khanbari, Niyat, Thore, Gaspayan, Gasbala, Bunar and surrounding areas.

In Thore Valley’s Thunraka area, flood debris entered several homes, while standing crops, agricultural land and fruit trees sustained heavy damage. The valley’s main road was washed away at multiple points, completely suspending traffic.

Power transmission lines were also damaged, cutting electricity to Thore Valley and nearby areas. In Chilas’ Niyat area, floodwaters damaged link roads, disrupting transportation for local communities.

In Khanbari, a severe flash flood swept away two houses along with their contents, as well as several livestock. A private company working on the Diamer-Bhasha Dam project reported major losses after floodwaters swept away 13 dumpers, an excavator, a crushing plant and two water tankers, halting construction activities.

Landslides and debris blocked the KKH at Bonar Das, stranding domestic and foreign travellers for several hours. While the highway was later reopened, link roads to remote areas remained blocked, and power supply had not been restored in several affected localities.

Affected residents have called for immediate relief operations, restoration of roads and electricity, and financial assistance for impacted families.

Officials noted that Gilgit-Baltistan is witnessing a sharp rise in climate-linked disasters, including cloudbursts, flash floods, landslides and glacial lake outburst floods (GLOFs), driven by rising temperatures and accelerated glacier melt.

The region, home to roughly 8,400 glaciers and over 4,000 glacial lakes, faces mounting long-term water security risks. Authorities say emergency response arrangements remain in place.

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

Source:

CategoriesNews Climate Change Dams Deforestation Environment Urban Flooding Weather

CM Punjab Orders Province-Wide Monsoon Emergency Alert, Directs WASA, Rescue 1122 and PDMA on Standby

LAHORE: CM Punjab Maryam Nawaz has placed all provincial line departments on high alert following the onset of the monsoon season, directing commissioners, deputy commissioners and field officers across the province to maintain round-the-clock preparedness and ensure rapid emergency response.

The Chief Minister emphasised that all concerned officers and staff must remain vigilant, stating there would be no tolerance for negligence or irresponsibility during the monsoon period.

Directives were issued to immediately drain rainwater, with continuous monitoring ordered for Water and Sanitation Agency (WASA) operations. The Provincial Disaster Management Authority (PDMA) Control Room and District Emergency Operation Centres have been instructed to remain fully alert across Punjab.

Rescue 1122 and WASA have been directed to keep personnel and machinery on standby, with priority given to swift-water drainage from low-lying areas and identified choke points. Continuous monitoring of stormwater drains and nullahs was also ordered to prevent water stagnation in urban areas.

The Irrigation Department has been instructed to keep teams on high alert to monitor canal water flow, while authorities were directed to ensure all manholes across urban and rural areas remain properly covered.

Additional safety arrangements were ordered at construction sites, alongside special monitoring of dilapidated and structurally vulnerable buildings. The Safe City Authority and Chief Traffic Officer teams have been directed to ensure smooth traffic flow on highways and main roads during periods of rainfall.

Field teams have been instructed to remain fully prepared to support public guidance, traffic management, and the protection of lives and property throughout the monsoon season.

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

Source:

Lahore HC Protects Overseas Pakistanis
CategoriesNews Property Property Laws Real Estate

Lahore HC Protects Overseas Pakistanis from Prolonged Litigation Under 2024 Act

LAHORE: The Lahore High Court has ruled that final judicial orders cannot be nullified through subsequently obtained ex parte decrees, reinforcing statutory safeguards for overseas Pakistanis in property disputes.

Justice Jawad Hassan, presiding over the matter Javed Masih v. Amar Javed (Writ Petition No. 2345 of 2026, decided 24-06-2026), held that a litigant cannot obstruct the execution of orders that have already attained finality by later securing an ex parte decree through collateral proceedings, particularly when that decree’s operation remains suspended.

The Court further observed that repeated attempts to frustrate final orders constitute an abuse of the process of law and do not warrant interference under constitutional jurisdiction.

The dispute originated from an ejectment petition filed by the petitioner against Respondent 2, based on an alleged sale deed. This was initially accepted by the Special Judge, Rent Court, but was subsequently set aside after Respondent 1 claimed lawful ownership through a registered sale deed and challenged it. 

The Special Court then directed the petitioner to hand over possession, an order the petitioner unsuccessfully contested before later obtaining an ex parte decree from the Civil Court, Rawalpindi, in an attempt to resist enforcement.

In its judgment, the Court examined the framework of the Overseas Pakistanis Property Act, 2024, noting that Sections 9 to 12 establish a comprehensive mechanism for the expeditious adjudication and enforcement of property rights of overseas Pakistanis, who often face significant hardship in litigating from abroad. The Court emphasised that their contribution to the national economy through remittances underscores the importance of timely justice in such matters.

Finding no illegality or jurisdictional defect in the Special Court’s order, the High Court declined to interfere and upheld the dismissal of the petitioner’s objections, effectively closing off further attempts to delay execution of the possession order.

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

Source:

Divorced Women 50% Property Share
CategoriesNews Economy Property Property Laws

Lawmakers Split Over Bill Granting Divorced Women 50% Property Share

ISLAMABAD: The Senate Standing Committee on Religious Affairs held a heated debate this week over a proposed law that would entitle divorced women to a 50 percent share in their former husband’s property, ultimately deciding to seek guidance from the Council of Islamic Ideology before proceeding further. The session, chaired by Senator Atta-ur-Rehman, took place at Parliament House.

The private member’s bill, introduced by Senator Syed Ali Zafar, seeks to provide financial protection to women, particularly those who have spent decades in marriage supporting their households without independent income.

Zafar argued that many divorced women, especially after unions lasting 40 years or more, are left without adequate housing or financial security despite years of unpaid domestic labour.

His proposal would allow a clause to be inserted into marriage contracts granting the wife a 50 percent property share upon divorce, citing comparable legal frameworks in Iran, Syria, Libya, Jordan, Malaysia, the United Kingdom, and India.

The bill drew mixed reactions. Senator Bushra Anjum Butt argued that husbands’ financial interests should also be safeguarded in cases where wives are the stronger earners. Senator Hafiz Abdul Karim rejected the bill as currently framed, insisting that legislation should be grounded in Islamic principles rather than Western models, maintaining that Islam already affords women adequate protections.

However, Senator Sarmad Ali pushed back, cautioning against assuming Turkish or Iranian laws are inherently un-Islamic, while Senator Dinesh Kumar pointed out that similar protections already exist under Hindu personal law in Pakistan.

Committee chairman Atta-ur-Rehman reiterated that no legislation could contradict the Quran and Sunnah, a position echoed by Federal Minister for Religious Affairs Sardar Muhammad Yousuf, who supported referring the matter to the Council of Islamic Ideology. The committee will either forward the bill for religious review or invite Council representatives to its next session before reaching a final decision.

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

Source:

Asset Management Authority
CategoriesNews Developments Property Urban Developments & Planning

CM Punjab Sets Up Asset Management Authority to Curb Encroachment, Boost Revenue

LAHORE: CM Punjab has approved the establishment of AMAP, a newly proposed institution tasked with centralising the identification, management, and utilisation of the province’s assets. The decision was announced following a high-level meeting chaired by the chief minister on Monday.

According to officials familiar with the plan, the Asset Management Authority of Punjab (AMAP) will serve as the province’s primary regulatory body for government-owned land and public property, consolidating functions that have historically been scattered across multiple departments.

Its mandate will include overseeing the transfer, disposal, valuation, and marketing of provincial assets, with a particular focus on properties identified as having strong investment or privatisation potential.

To generate revenue, the authority is expected to employ a range of financial mechanisms, including leasing arrangements, rental agreements, public-private partnerships, and joint ventures. Officials said the approach is designed to maximise returns on underutilised government property while attracting private investment into asset development.

During the meeting, the chief minister directed relevant departments to accelerate revenue generation through the sale, lease, and collateral-based financing of provincial assets. She noted that the absence of a single, dedicated institution to regulate Punjab’s assets had left substantial public land vulnerable to illegal encroachment and mismanagement, underscoring the need for a more coordinated regulatory framework.

In terms of structure, AMAP will operate under a governing board headed by the provincial chief secretary, while daily operations will be managed by an officer of BPS-20 rank.

The authority will also induct private-sector professionals on a merit basis, reflecting an effort to bring specialised commercial expertise into asset management decisions.

Officials clarified that all major decisions regarding the transfer, valuation, or long-term management of assets will require formal approval from the provincial cabinet, adding an additional layer of oversight.

The move is seen as part of a broader push by the current Punjab administration to reform governance structures and improve fiscal discipline across state institutions.

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

Source:

CategoriesNews Economy Real Estate Investment

AI to Replace Manual Tax Notices as Pakistan Eyes $750M Eurobond After Panda Bond Success

ISLAMABAD: Pakistan’s tax administration is set to shift toward an artificial intelligence-led engagement model, with human intervention between the tax authority and taxpayers reduced to a minimum, Finance Minister Muhammad Aurangzeb said while addressing a banking summit in Karachi.

The minister noted that Parliament has approved a new tax administration structure under which taxpayer notices will now be issued through AI-led systems, marking a shift from the traditional, human-dependent compliance process.

On external financing, Aurangzeb expressed optimism over Pakistan’s entry into international bond markets, citing the recent Panda Bond issuance as a notable milestone despite the country’s late arrival in China’s capital markets. The bond, launched in mid-May, raised the equivalent of $250 million in yuan and attracted demand exceeding five times its target.

The government is now preparing additional Eurobonds and sukuk, with upcoming instruments structured as dollar-settled, rupee-linked bonds, a first for Pakistan. Requests for proposals have been sent to international investors to gauge pricing and demand.

Following Pakistan’s re-entry into the international bond market after a four-year gap, strong Eurobond demand has created room to raise issuance size to $750 million, the minister said.

On capital markets, Aurangzeb said activity drivers mattered more than headline index figures, citing a growing investor base, including Gen Z participants, and a return to double-digit corporate profitability.

On fiscal policy, he said this year’s budget was formulated for the first time by the Tax Policy Office, now under the Finance Division, with focus on export-led growth through removal of the advance and super taxes.

Pakistan Banks’ Association Chairman Zafar Masood added that the banking sector paid over Rs1 trillion in annual taxes, with agriculture lending up 39 percent, housing lending up 90 percent, and SME lending growth exceeding 111 percent year-on-year.

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

Source:

CategoriesNews Citadel 7 Economy Investment

Sindh, IFC Explore Partnership in Digital Infrastructure and Renewable Energy

KARACHI: The Sindh government and the International Finance Corporation (IFC) have agreed to explore collaboration across multiple development sectors, including digital infrastructure, renewable energy, agriculture, healthcare, and social protection.

The agreement followed a meeting between Sindh Chief Minister Syed Murad Ali Shah and IFC Division Director for Pakistan Simon Andrews, held at the CM House.

During the meeting, CM Murad outlined Sindh’s plans to attract investment in strategic sectors. These include establishing an international data centre within the province and expanding private-sector renewable energy generation.

Discussions also covered strengthening agriculture value chains, improving storage and processing facilities, and enhancing farmer livelihoods through mechanisation.

The IFC expressed interest in supporting healthcare, nutrition, and skills development initiatives, including Sindh’s ongoing programme to reduce child stunting.

Nursing sector reforms also featured prominently in the discussion. The Sindh government aims to produce at least 15,000 nurses annually. Both sides agreed to collaborate on developing a comprehensive nursing education and training model to meet this target.

A separate segment of the meeting focused on climate-resilient infrastructure. The IFC’s Sustainable Infrastructure Advisory Team offered technical assistance for climate risk assessment in public-private partnership (PPP) projects. 

In response, Sindh’s PPP Unit requested support in three areas: capacity building, development of climate resilience guidelines, and integration of climate risk tools into project planning processes.

Provincial Minister Jam Khan Shoro, Chief Secretary Asif Hyder Shah, and Finance Secretary Fayaz Jatoi were among the officials present at the meeting.

Both parties are expected to continue discussions to formalise areas of cooperation in the coming months.

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

Source:

CategoriesNews Budget Economy Property Taxes Real Estate Investment

Govt Tax Relief Aims to Revive Real Estate, Push Vertical Growth

ISLAMABAD: The government has introduced fresh tax relief for the real estate sector to restore investor confidence and boost stalled investment, according to Federal Parliamentary Secretary for Planning and Development Hafiz Mian Muhammad Nauman.

Speaking at a seminar organised by the Lahore Chamber of Commerce and Industry (LCCI), Nauman said the construction and real estate sectors support around 70 allied industries and play a major role in job creation. He stressed the need to shift from unchecked horizontal expansion of cities to vertical urban development.

LCCI President Faheemur Rehman Saigol welcomed the relief measures, which include a cut in withholding tax on property purchases from 2.5% to 1.25%, and on sales from 5.5% to 2.75%, along with the abolition of Section 7E. He said these steps would help rebuild investor trust, though he urged the government to extend reduced FBR property valuation rates to other housing societies for equal treatment across the sector.

Nauman said he had raised real estate reform with Prime Minister Shehbaz Sharif nearly a year ago, pushing for a comprehensive construction package. He noted that unchecked urban sprawl has shrunk green spaces around major cities, with Lahore now spreading into Sheikhupura and Kasur. Nearly 150,000 to 200,000 residential plots remain vacant within Lahore alone, he said, making a strong case for vertical development.

He called the removal of Section 7E a major relief for property owners, noting that taxing non-income-generating assets had discouraged investment.

On affordable housing, Nauman said high financing costs keep home ownership out of reach for most citizens. He urged banks to offer long-term mortgage financing spanning 15 to 20 years, similar to models used in developed countries.

Source:

Pakistan’s IPO Market
CategoriesNews Economy

Pakistan’s IPO Market Raises Over $70 Million in First Half of 2026

KARACHI: Pakistan’s capital markets showed renewed vigour in the first half of 2026, with companies raising more than Rs20 billion through initial public offerings, according to figures released by the SECP.

The figures reflect a broader push by Islamabad to strengthen the country’s capital markets and steer businesses toward equity financing as an alternative to conventional bank borrowing.

Nine companies completed public listings during the period, drawing capital from a diverse range of sectors including manufacturing, petroleum, dairy, Islamic finance, poultry, and real estate. The SECP attributed the uptick in market activity to a series of regulatory reforms aimed at streamlining the IPO process and making stock market listings more accessible to companies across industries.

In a related development, the regulator unveiled Pakistan’s first regulatory framework for Environmental, Social and Governance (ESG) mutual funds. Under the new rules, ESG-designated funds will be required to allocate at least fifty percent of their assets to qualifying sustainable investments. 

The framework also incorporates safeguards intended to curb “greenwashing,” ensuring that funds marketed as environmentally or socially responsible genuinely meet defined sustainability criteria.

The ESG framework is part of a wider sustainable finance strategy being rolled out by the SECP, which includes new ESG disclosure requirements, sustainability reporting standards, and the introduction of Pakistan’s Green Taxonomy, a classification system meant to identify and standardise environmentally sustainable economic activities.

Taken together, these developments signal a deliberate effort by Pakistani regulators to modernise the country’s financial markets, attract a broader base of investors, and align domestic capital-raising practices with global sustainability standards. 

Analysts suggest that continued regulatory simplification could further encourage companies to tap public markets in the coming months, potentially deepening liquidity and investor participation in Pakistan’s equity landscape.

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

Source: