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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.

Margalla Avenue Link to M-1
CategoriesDevelopments News Urban Developments & Planning

CDA Fast-Tracks Margalla Avenue Link to M-1

ISLAMABAD: The Capital Development Authority has moved forward with plans to connect Margalla Avenue to the Peshawar Motorway (M-1), marking a significant step toward enhancing regional traffic flow and improving access to the federal capital.

CDA has invited tenders for the construction of the final 2.7-kilometre stretch of Margalla Avenue, which will include an interchange on GT Road. According to officials, technical bids will be opened on January 23, and the project is expected to be completed within eight months once construction begins.

At the road’s endpoint near Sangjani Grid Station, the National Highway Authority will undertake construction of an additional 2.5-kilometre section within Rawalpindi’s jurisdiction. This section will connect the route to M-1 near the AWT Housing Society. NHA has already awarded a Rs 4.1 billion contract for this segment to the National Logistic Cell.

The project, which has been under discussion for nearly five years, is designed as a three-lane dual carriageway with two-lane service roads, featuring a cloverleaf interchange. Once completed, it will provide a six-lane alternative route for commuters travelling between Islamabad and GT Road (N-5), easing congestion on existing arteries.

Separately, CDA officials confirmed preparations to invite bids for an underpass near Islamabad Club on Murree Road, with the design currently undergoing finalisation. The authority stated that these initiatives align with its broader agenda to enhance urban mobility and road infrastructure in the capital.

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CategoriesNews Urban Developments & Planning

900 kanals recovered as CDA intensifies Anti-Encroachment action

ISLAMABAD: The Capital Development Authority has intensified its anti-encroachment campaign in the federal capital, successfully retrieving more than 900 kanals of valuable state land from illegal occupants during a recent enforcement operation.

Progress of the drive was reviewed in a high-level meeting at CDA Headquarters, chaired by Muhammad Ali Randhawa, Chairman CDA and Chief Commissioner Islamabad. Senior officials from the Authority’s enforcement, planning, environment, and administration wings attended the meeting.

Officials briefed that a focused operation was carried out against land mafia elements in the Diplomatic Enclave and adjoining areas, including the former Muslim Colony. The campaign was conducted in line with orders of the Islamabad High Court, ensuring due legal process. A temporary site office was established on the Chairman’s directives, where officials from the Revenue and Planning Wings reviewed ownership claims and resolved legitimate cases in accordance with the law.

CDA further confirmed that FIRs are being registered against those involved in illegal occupation of state land and misleading citizens through unauthorised constructions. The Enforcement Wing is operating with the full support of the District Administration and Islamabad Police.

Chairman CDA emphasised that all genuine claims would be handled fairly while reaffirming the Authority’s commitment to organised urban planning, protection of state land, and elimination of encroachments across Islamabad.

CDA has appealed to citizens to cooperate with authorities and promptly report any illegal construction or encroachment. The Authority noted that state land worth billions of rupees has been recovered so far as part of these ongoing enforcement efforts.

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CPEC 2.0
CategoriesConstruction Developments News

Pakistan and China Launch CPEC 2.0 to Strengthen Bilateral Ties and Regional Development

ISLAMABAD: In a significant diplomatic move, Pakistan and China have agreed to align their development strategies under the upgraded China-Pakistan Economic Corridor (CPEC), now known as CPEC 2.0. The agreement was reached during the Seventh Round of the Pakistan-China Foreign Ministers’ Strategic Dialogue, co-chaired by Chinese Foreign Minister Wang Yi and Pakistan’s Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar in Beijing.

Both countries reaffirmed their longstanding strategic partnership, with CPEC 2.0 being a major milestone in their economic and political cooperation. The upgraded corridor will focus on key sectors, including industry, agriculture, and mining, with a strong emphasis on Gwadar Port development and ensuring the smooth operation of the Karakoram Highway. These initiatives aim to boost sustainable development and strengthen Pakistan’s economic resilience.

Additionally, Pakistan and China agreed to expand cooperation in trade, investment, and cybersecurity, alongside technical exchanges in science, education, and vocational training. The opening of the Khunjerab Pass year-round will further enhance bilateral trade and people-to-people ties.

The dialogue also touched on global and regional issues, with both nations committing to deepen mutual trust and safeguard common interests. They underscored their readiness to collaborate on counter-terrorism, finance, space cooperation, and multilateral forums.

Looking forward, the two sides are preparing for the 75th anniversary of diplomatic relations in 2026 and have reaffirmed their commitment to the Action Plan for 2025–2029, aiming for closer bilateral cooperation in the years ahead.

The next round of talks will be held in Islamabad next year, continuing the momentum of strategic collaboration.

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CategoriesNews Real Estate

Revised Housing Finance Scheme Struggles to Gain Traction

KARACHI: Commercial banks have reported a muted public response to the government’s recently relaunched subsidised housing finance scheme, with industry experts attributing the slowdown to financing limits that fall short of prevailing property prices in major urban centres.

The government allocated a Rs5 billion subsidy for the current financial year, following which the State Bank of Pakistan (SBP) introduced a housing finance facility offering a maximum loan of Rs3.5 million for the purchase, construction and renovation of residential properties.

However, market participants say the cap is insufficient in cities such as Karachi, Lahore and Islamabad, where even small housing units are priced well above the scheme’s ceiling. As a result, banks have seen limited uptake, weakening the initiative’s aim of promoting home ownership and reviving construction activity.

Experts warn that the challenge is compounded by Pakistan’s growing housing deficit, which has reached 12 million units nationwide, and by rising land and construction costs. According to data from World Population Review, Pakistan’s housing affordability index has declined to 0.4, placing it below regional peers such as Bangladesh and India.

Industry specialists have urged policymakers to revise the scheme and align financing limits with market realities. They also recommend encouraging foreign investment in low-cost and vertical housing, adopting climate-resilient construction models, and improving collaboration between banks and developers. Several stakeholders argue that raising the loan ceiling to Rs 10 million could significantly expand access for middle-income households and overseas Pakistanis, thereby driving employment and economic growth.

Observers point to the success of an earlier SBP housing finance programme launched in 2020, which allowed loans of up to Rs10 million and generated strong demand before being discontinued due to fiscal constraints. The current scheme, relaunched in September 2025 with reduced limits, is now under scrutiny as calls grow for policy adjustments to restore momentum in the housing and construction sector.

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CategoriesInvestment News Real Estate

SECP Enhances REIT Framework to Promote Transparency and Early Listings

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has announced amendments to the Real Estate Investment Trust (REIT) Regulations, 2022, aimed at improving the governance, transparency, and operational efficiency of REIT schemes in Pakistan. The revised regulations focus on streamlining processes, strengthening oversight, and fostering earlier listings of REIT schemes to enhance their development as a capital market asset class.

Key amendments introduced by the SECP include clearer timelines for transferring real estate and shares of special purpose vehicles (SPVs). These changes are designed to promote the early listing of REIT schemes, increasing their visibility in the market and attracting more investment. The regulatory updates also strengthen the roles of REIT Management Companies (RMCs) and trustees, ensuring better governance and reducing regulatory arbitrage across different REIT structures.

In a bid to align with Shariah governance frameworks, the SECP has refined the definition of real estate, distinguishing between passive and active components. Additionally, the regulations now include income and asset test requirements, consistent with international best practices, to ensure that REIT schemes primarily invest in and generate income from real estate assets.

The amendments followed a comprehensive stakeholder consultation process, which included meetings with RMCs, trustees, banks, mutual funds, law firms, and consultants. The SECP emphasised that the revised regulations are expected to boost investor confidence and encourage the growth of REITs as a long-term, stable investment option in Pakistan’s capital markets.

The amended REIT Regulations are now available on the SECP’s official website, marking a significant step toward strengthening Pakistan’s real estate investment framework.

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CategoriesMass Transit News Transport

Orange Line–Green Line Integration Expands Karachi’s BRT Network

KARACHI: The Edhi Orange Line Bus Rapid Transit (BRT) has been officially integrated with the Green Line BRT, significantly improving connectivity for commuters in Karachi, Sindh Senior Minister Sharjeel Inam Memon announced on Tuesday.

Speaking at the integration ceremony, the minister said the merger has expanded the Orange Line from four to 10 stations, enabling passengers to travel seamlessly from Orangi Town to Nagan Chowrangi. Under the new arrangement, Orange Line buses will operate along the Green Line BRT track, providing improved access and convenience for residents of Orangi Town.

The Orange Line BRT project was initiated in 2016 under the Sindh Mass Transit Authority (SMTA) as a four-kilometre route from Orangi Town Office to Matriculation Board Office Chowrangi. Initially scheduled for completion in 2017, the project remained stalled for several years and was finally completed in 2022.

The project’s cost was revised twice, with the final budget reaching Rs5.5 billion, including the purchase, maintenance and operation of 20 buses and extension to Nagan Chowrangi. Operational responsibilities were later handed over to the Sindh Infrastructure Development Company Limited (SIDCL) for three years.

The minister also shared updates on the Green Line BRT extension, a 1.8-kilometre stretch from Numaish Chowrangi to Jama Cloth Market, which is expected to be opened to the public by October 31, 2026, according to assurances by Pakistan Infrastructure Development Company Limited (PIDCL).

Memon noted that daily ridership on the Green Line has increased from 55,000 to 75,000 passengers, with a target of 100,000. He highlighted the introduction of a women-only BRT service, the arrival of electric buses, and announced the launch of a double-decker bus service on a trial basis from Malir to Shahrah-e-Faisal starting Wednesday.

He also outlined plans to expand bus services across Hyderabad, Khairpur, Shikarpur and Tando Allahyar, underscoring the Sindh government’s commitment to improving public transport across the province.

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CategoriesConstruction News

CDA Given 10-Day Deadline as Major Islamabad Projects Reviewed

ISLAMABAD: Interior Minister Mohsin Naqvi on Thursday chaired a high-level meeting at the Capital Development Authority (CDA) Headquarters to review progress on significant development and public welfare projects in the federal capital. During the meeting, the minister directed the CDA to finalise the designs of the proposed international cricket stadium and the Kashmir Chowk underpass within 10 days.

It was decided to construct a state-of-the-art cricket stadium in Islamabad in collaboration with the Pakistan Cricket Board (PCB). The proposed stadium will be developed at the foothills of Margalla Hills near Sector D-12, for which land has already been earmarked. The project aims to enhance sports infrastructure and promote international cricket in the capital.

To improve traffic flow, the meeting also approved the construction of a smart underpass at Kashmir Chowk, with instructions to submit its final design within the stipulated timeframe.

Additionally, the meeting discussed plans for the construction of a five-star hotel and a new convention centre in Islamabad. The minister directed the relevant departments to identify long-vacant commercial plots and submit detailed reports at the next meeting. It was also decided to engage renowned companies for the hospitality projects to ensure international standards.

The meeting further approved the formation of a special team to hire a Solid Waste Management company and reviewed proposals for allocating land for the headquarters of various law enforcement agencies, including the Federal Constabulary, Rangers, and Islamabad Traffic Police.

Minister Naqvi reiterated that anti-encroachment operations would continue, adding that retrieved land would be utilised exclusively for public welfare projects.

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CategoriesEconomy News

Pakistan Launches Comprehensive Economic Reforms as Stability Restored

ISLAMABAD: Prime Minister Shehbaz Sharif officially launched the government’s Economic Governance Reforms on Wednesday, marking a significant step towards long-term economic stability and growth. The reforms come after two years of challenging decisions, during which macroeconomic stability was restored, inflation was reduced to 4.5%, and foreign exchange reserves rose to over $21 billion.

At the launch ceremony, Prime Minister Sharif detailed the economic difficulties inherited in early 2024, including 30% inflation and critically low reserves. He emphasised that the government’s focus on structural reforms, such as withdrawing unsustainable subsidies, tightening fiscal discipline, and implementing privatisation measures, was crucial in navigating the crisis. As a result, the country saw a positive shift in economic indicators, with the current account improving from a $3.3 billion deficit to a $1.9 billion surplus.

The reforms also led to an increase in the tax-to-GDP ratio, from 8% to over 10%, and to the addition of over 1 million new taxpayers. Tax collection grew by 26% in 2025, facilitated by the government’s push for digitisation.

Finance Minister Muhammad Aurangzeb provided further insights, noting that GDP growth reached 3.1% in FY25 and 3.71% in the first quarter of FY26, despite external shocks. He also highlighted the reduction of public debt from 75% to 70% of GDP and early debt repayments that saved the country Rs 3.5 trillion in interest costs.

The government’s 142-reform agenda spans critical sectors, including taxation, energy, privatisation, and digital governance, with the aim of establishing a sustainable, private-sector-driven economy.

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CategoriesConstruction News Urban Developments & Planning

Shaheen Chowk Underpass Opens in Islamabad, Completed in Record 63 Days

ISLAMABAD: The Shaheen Chowk Underpass, located at the busy intersection of Khyaban-e-Iqbal and 9th Avenue, was officially opened for traffic today, marking a significant milestone for Islamabad’s infrastructure. The project, completed by the Capital Development Authority (CDA), was delivered in an impressive 63 days, far ahead of its expected completion time. Dubbed a New Year’s gift to the city, this rapid development is expected to significantly alleviate traffic congestion in the area.

During the opening ceremony, Interior Minister Syed Mohsin Naqvi shared that Prime Minister Shehbaz Sharif would lead the formal inauguration of the underpass. Reflecting on the city’s infrastructure progress, Naqvi expressed pride in the numerous development projects completed in the Islamabad Capital Territory this year and reiterated his confidence that the pace of development would double in the upcoming year.

The event was attended by key figures, including the Minister of State for Interior, Talal Chaudhry, and the CDA Chairman, Muhammad Ali Randhawa.

In addition to the underpass, Naqvi announced plans to construct seven to eight cricket grounds and a grand cricket stadium in Islamabad to enhance the capital’s sports infrastructure.

Minister Naqvi also revealed that the M-Tag system, which is required for vehicles entering Islamabad, has been granted a 15-day extension. The new deadline offers additional time for compliance, postponing enforcement of the system, which was initially set for January 1.

The completion of the Shaheen Chowk Underpass in just 63 days underscores the government’s commitment to swift infrastructure development. It is expected to significantly improve traffic flow in one of Islamabad’s most congested areas.

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CategoriesNews Taxes

Punjab’s Excise Department Raises Property Tax by Up to 50%

RAWALPINDI: The Excise and Taxation Department of Punjab has recently implemented a significant increase in property tax rates, raising them by 25% to 50%. This hike follows a revision of property DC rates across the province.

In addition to the increased property rates, the department has sent out new tax notices for the upcoming financial year. Citizens are now required to pay their taxes by December 22, even though the notices were sent after this deadline, resulting in additional surcharges on their bills.

The department’s move is part of broader changes made earlier this year when tax rates were increased in January, extending the tax net to include smaller properties, such as homes under 5 marlas, as well as widows. Citizens have also received notices for outstanding taxes spanning the past 1 to 3 years.

Under the revised tax structure, Rawalpindi city has been divided into three categories (A, B, and C), and property taxes are now being calculated according to the new rates based on property size. For instance, individuals who previously paid 25,000 PKR in taxes have now received notices for 50,000 PKR.

While the financial year ends on June 30, tax defaulters are typically given a grace period, yet the Excise Department has already sent out notices for the 2025-2026 financial year. Citizens have raised concerns over the fairness of these actions, demanding intervention from the Chief Minister of Punjab and the Provincial Minister of Taxation to address these unjustified penalties and excessive tax rates.

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