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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.

Public Transport Free
CategoriesNews Economy Transport

Pakistan Cuts Petrol Levy by Rs80, Makes Public Transport Free for One Month

ISLAMABAD: On Friday, Shehbaz Sharif announced an immediate reduction of Rs80 per litre in the petroleum levy, lowering the retail price of petrol to Rs378 per litre. Meanwhile, Federal Minister for Interior Mohsin Naqvi declared that all public transport in Islamabad would be free for 30 days.

The crisis was triggered by a sharp surge in global oil prices following the ongoing conflict involving the United States, Israel, and Iran, which has severely disrupted international energy markets and threatened the flow of crude through the Strait of Hormuz. In response, the government on Thursday raised petrol prices by 43% to Rs458.41 per litre and high-speed diesel by 55% to Rs520.35 per litre, prompting widespread public backlash, street protests in Lahore, and long queues at fuel stations across the country.

Acknowledging the burden on ordinary citizens, the Prime Minister stated that the government had absorbed Rs129 billion in subsidies over the preceding three weeks to shield the public from the full brunt of rising international prices. The revised petrol rate of Rs378 per litre will remain in effect nationwide for at least one month.

In a parallel relief effort, Interior Minister Mohsin Naqvi announced that all public transport in Islamabad would be free of charge for 30 days, with the Ministry of Interior bearing an estimated cost of Rs350 million.

CM Punjab Maryam Nawaz extended the same measure province-wide, making the Orange Line Metro, Metro Bus, Speedo buses, and Green Electric Buses free for daily commuters. Sindh Chief Minister Murad Ali Shah, meanwhile, announced a monthly cash subsidy of Rs2,000 for registered motorcycle owners across the province, to be disbursed digitally through the excise department within 15 days.

Additional relief measures include a Rs100-per-litre diesel subsidy per acre for farmers, targeted monthly financial support for freight and passenger transport operators, and a freeze on Pakistan Railways’ economy-class fares. Federal cabinet members also extended their salary contributions to the national exchequer from 2 months to 6 months under the government’s broader austerity programme.

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Fuel Price Hike
CategoriesNews Economy Transport

Pakistan Announces Record Fuel Price Hike Amid Regional Crisis

ISLAMABAD: Pakistan government has announced an unprecedented increase in fuel prices. Petrol prices have been raised by Rs137 per litre, a staggering 43% jump, bringing the new rate to a historic high of Rs458.4 per litre. High-speed diesel has surged even more sharply, climbing 55% to Rs520.35 per litre, while kerosene and light diesel oil rose to Rs468 and Rs395 per litre, respectively.

The move marks the second major fuel price revision in under a month, pushing the cumulative increase in petrol to 63% and high-speed diesel to 75% within thirty days.

A key driver behind the hike is the government’s failure to secure greater subsidy allowances from the International Monetary Fund, which capped fuel subsidies at Rs152 billion. Simultaneously, the closure of the Strait of Hormuz by Iran in retaliation for US and Israeli strikes has sent international oil prices soaring, severely limiting Islamabad’s room to manoeuvre.

To offset diesel costs, the government has raised the petroleum levy on petrol to a record Rs161 per litre, effectively transferring the burden onto petrol consumers to cross-subsidise diesel users, a decision that has drawn sharp criticism. As a partial relief measure, motorcycle riders will receive a subsidy of Rs100 per litre.

The government has announced subsidies for farmers, transporters, and low-income citizens. Small farmers will receive a one-time payment of Rs 1,500 per acre. Truck operators carrying food items will receive Rs 70,000 per month, large transport vehicles will receive Rs 80,000 per month, and inter-city passenger vehicles will receive Rs 100,000 per month.

A Rs100-per-litre fuel subsidy will also apply to inter-city and goods transport, with prices reviewed monthly. Low-income train passengers will also benefit from federal support.

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FTA with UK
CategoriesNews Economy Trade

Pakistan Proposes FTA with UK Amid Expanding Trade Dialogue

ISLAMABAD: Pakistan has proposed a future Free Trade Agreement (FTA) with the United Kingdom, presenting it as a natural progression in an expanding bilateral trade relationship. The proposal emerged during a meeting in Islamabad between Commerce Minister Jam Kamal Khan and UK official Edward Llewellyn, attended by British High Commissioner Jane Marriott, where both sides reviewed recent developments under the Pakistan-UK Trade Dialogue.

During the discussions, officials welcomed the establishment of a dedicated working group on healthcare and life sciences, describing it as a positive step toward deeper sectoral cooperation. The two countries also agreed to operationalise additional working groups in key areas, including information technology, agriculture, professional services, education, and skills development. The broadening of engagement across these sectors reflects an effort by both governments to strengthen institutional links and expand trade-related collaboration beyond traditional goods markets.

Pakistan used the meeting to emphasise its ongoing structural reforms aimed at improving competitiveness and attracting foreign investment. Officials highlighted tariff rationalisation, regulatory adjustments, and the importance of policy continuity as part of a wider strategy to create a more stable and investor-friendly commercial environment.

The UK side, meanwhile, raised concerns regarding intellectual property policy and urged Pakistan to ensure predictability in its regulatory framework. Both delegations also discussed the registration of geographical indications and trademarks for Pakistani basmati rice, an issue viewed as significant for the protection and promotion of Pakistan’s export interests in international markets.

Broader geopolitical trade risks were also part of the exchange, with particular attention given to tensions around the Strait of Hormuz. Pakistani officials noted that rising maritime insurance and shipping costs were placing additional pressure on exports and called for a fairer assessment of risk zones affecting regional trade routes.

The meeting signalled a shared interest in expanding economic ties, while also underscoring the policy and regulatory issues that both sides consider essential for sustaining long-term commercial cooperation.

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CategoriesNews Construction Developments Property Real Estate Urban Developments & Planning

CDA Launches Ataturk Avenue Expansion Project in Islamabad

ISLAMABAD: The Capital Development Authority has started construction work on Ataturk Avenue to widen the road between D-Chowk and Ayub Chowk. The road will be expanded from a single lane into a two-way carriageway. The project will cost Rs. 241 million and is expected to finish within two months.

Since March 31, the avenue has been closed to traffic while construction is ongoing. Islamabad Traffic Police has set up alternate routes to help commuters get around the affected area.

The CDA has also taken steps to protect trees along the route, following heavy criticism over a similar project in 2018 when more than a hundred trees were cut down. This time, the authority says no trees will be removed. Twelve trees that fall in the path of construction are being dug up and moved to nearby locations. CDA spokesperson Shahid Kiani invited journalists and environmentalists to visit the site and see the process for themselves.

The project is being carried out under the supervision of the Environment Protection Agency, which had previously raised objections over tree cutting on the same stretch.

Apart from widening the road, the project also includes building dedicated cycling lanes and improving the overall layout of the avenue to reduce traffic congestion.
Residents have been asked to plan their travel in advance and follow instructions from traffic police during the construction period.

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CategoriesNews Construction Developments Economy Transport Urban Developments & Planning

Karachi Road Built from Recycled Plastic Waste Inaugurated by City Mayor

KARACHI: Karachi Mayor Murtaza Wahab on Monday inaugurated a road near the English Biscuit Manufacturers (EBM) facility constructed using recycled industrial plastic waste, marking a notable convergence of private-sector sustainability efforts and urban infrastructure development in Pakistan’s largest city.

The road, located adjacent to EBM’s Karachi manufacturing plant, was developed in partnership with Concept Loop and is designed to divert low-value plastic waste from landfills by converting it into durable road material. The initiative is part of EBM’s broader circular economy agenda and is presented as a scalable model for integrating recycled materials into national infrastructure projects.

Speaking at the inauguration, Mayor Wahab described the project as “practical innovation that Karachi needs,” adding that it addresses both infrastructural deficiencies and environmental challenges simultaneously. EBM Executive Director Shahzain Munir emphasised the company’s commitment to long-term value creation through circular solutions and called for stronger public–private collaboration to scale such initiatives nationwide.

The inauguration ceremony also featured public awareness activities on sustainable waste management practices.

Separately, Mayor Wahab laid the foundation stone for the rehabilitation of Mirza Adam Khan Road in Lyari Town on the same day, at an estimated cost of Rs400 million. The project encompasses a 4.48-kilometre dual carriageway, a 4.61-kilometre drainage line, and an 18-inch sewerage line, with completion targeted before 30 June 2026. The mayor noted the road is a key artery connecting the Mauripur Road and Garden areas and forms part of the broader Lyari Transformation Project, valued at approximately Rs5 billion in its first phase.

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CategoriesNews Economy Investment

KSE-100 Slides 3,500 Points Amid Middle East Chaos

KARACHI: The Pakistan Stock Exchange suffered a sharp sell-off on Monday as escalating hostilities in the Middle East drove the KSE-100 Index down 3,500 points to 148,201, from a previous close of 151,707.

The decline is the latest in a string of war-driven corrections. Earlier this month, the index shed over 16,000 points in a single session, its steepest single-day fall on record, triggering a temporary halt under PSX circuit-breaker regulations. The conflict, sparked by joint U.S.-Israeli strikes on Iran, has since cast a long shadow over domestic markets.

The turmoil is not confined to Pakistan. Global markets have been broadly rattled, with hedge funds in Europe rapidly unwinding leveraged positions and volatility spreading across U.S. Treasuries, gold, and currencies. The closure of the Strait of Hormuz, a conduit for roughly 20% of the world’s oil and gas supplies, has produced what the International Energy Agency has called the largest supply disruption in the history of the global oil market, with Gulf production cuts exceeding 10 million barrels per day.

Oil prices surged further after Yemen’s Houthi movement launched ballistic missiles at Israeli targets over the weekend, widening the regional conflict. Brent crude climbed 2.47% to approximately $115.35 per barrel, up nearly 36% since hostilities began on February 27.

As a net oil importer, Pakistan faces compounding risks, inflationary pressure, current account stress, and currency vulnerability. While AKD Securities has suggested the direct economic impact remains manageable, analysts broadly agree that market recovery hinges on the conflict’s trajectory.

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Tax-Free Real Estate Package
CategoriesNews Property Property Taxes

Pakistan Plans Tax-Free Real Estate Package to Attract Overseas Investment

ISLAMABAD: The federal government is working on a comprehensive tax-free real estate investment package designed to attract overseas Pakistanis and foreign investors, with the proposal already submitted to the International Monetary Fund (IMF) for review and approval.

According to official sources, the initiative aims to remove long-standing procedural barriers that have historically deterred expatriates from investing in Pakistan’s property sector. The package is structured to channel foreign currency, particularly US dollars, into the country’s real estate and construction sectors, providing a much-needed boost to both.

The proposed reforms are expected to create more secure real estate options for overseas Pakistanis looking to enter Pakistan’s property market.

Among the key measures under consideration is the establishment of dedicated special investment zones for real estate development, offering streamlined approval processes, infrastructure support, and additional financial incentives to encourage large-scale projects. Authorities are also exploring the introduction of Real Estate Investment Trusts (REITs) and escrow accounts for property transactions, moves intended to enhance transparency and significantly reduce the risk of fraud for investors operating from abroad.

These measures may also increase confidence in real estate investment by improving transparency and reducing procedural risks.

The government is additionally seeking to revise existing taxes on property transactions as part of the broader reform package, though these adjustments remain subject to IMF concurrence. Notably, most of the proposed benefits are expected to be available exclusively to tax filers, with non-filers receiving limited relief under the current framework.

Officials have indicated that the initiative is partly motivated by evolving economic conditions in Gulf countries, where many overseas Pakistanis are based, presenting an opportunity to redirect investment flows back to Pakistan amid regional uncertainties.

Sources familiar with the matter suggest the package could be officially announced as early as next month, pending final regulatory approvals. If implemented, the scheme would represent one of the most substantial efforts in recent years to integrate the Pakistani diaspora more meaningfully into the country’s economic development.

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CategoriesNews Economy Investment Trending

Gold Prices Surge in Pakistan Amid Global Market Rally

KARACHI: Gold prices in Pakistan continued their volatile trajectory on Wednesday, recording a sharp increase of Rs15,200 per tola to reach Rs479,262, according to the All-Pakistan Gems and Jewellers Sarafa Association. The price of 10-gram gold also climbed by Rs13,031, settling at Rs410,889.

The latest surge follows a turbulent few sessions in the domestic market. Gold had previously risen by Rs16,300 per tola on Tuesday before that gain came on the heels of a steep decline of approximately Rs43,000, underscoring the extreme price swings that have characterized the market in recent days.

The domestic rally closely tracked developments in the international market, where spot gold prices rose nearly 2% to $4,554.97 per ounce after hitting a four-month low earlier in the week. US gold futures for April delivery posted an even sharper gain of 3.5 percent, reaching $4,553.60 per ounce, according to Reuters.

Market analysts attributed the rebound to easing inflation concerns, partly stemming from a recent decline in global oil prices. However, persistent geopolitical tensions in the Middle East continue to cast a shadow of uncertainty over commodity markets, sustaining demand for gold as a protective asset.

Adnan Agar, Director at Interactive Commodities, offered a broader perspective on gold’s evolving role, noting that the metal has transitioned from a traditional safe-haven instrument to a recognized long-term investment class. He attributed this shift largely to aggressive gold purchases by central banks worldwide, as nations seek to reduce their dependence on the US dollar.

Looking ahead, futures market speculation suggests a potential price correction as markets enter their next phase. Analysts also cautioned that any escalation in crude oil prices could trigger broader inflationary pressures, potentially compelling central banks to curtail gold purchases.

Silver prices edged up by Rs370 per tola to Rs7,824, while the Pakistani rupee gained marginally, rising Rs0.01 to Rs279.21 against the US dollar in the interbank market.

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CategoriesNews Construction Real Estate Urban Developments & Planning

Kachehry Chowk Pedestrian Bridges Construction Resumes in Rawalpindi

RAWALPINDI: Construction of pedestrian bridges under the Kutchery Chowk remodelling project commenced on Monday, March 24, 2026, following a brief suspension during the Eid holidays. The bridges are expected to be completed within one month, according to Punjab Highway Department Superintendent Engineer Ashfaq Sulheri.

The construction encompasses two interconnected bridges: the first spanning from Rashid Minhas Road, near the Federal Board of Revenue building, to Jhelum Road at the gate of the district courts; and the second connecting Fatima Jinnah University to the Adiala Road bus stand. Officials described the structure as the first state-of-the-art pedestrian bridge of its kind under the project.

Mr. Sulheri stated that the bridges were necessitated by the concentration of district courts, administrative offices, and police headquarters in the vicinity, creating a critical need for dedicated pedestrian access across the main square without the use of flyovers, underpasses, or ground-level roads.

The overall Rs19 billion remodelling project has surpassed 74 per cent completion. Structures for two flyovers and three underpasses have been fully built, over 50 per cent of road work has been carried out, and finishing work on the Jinnah Park flyover is currently underway.

Drainage infrastructure is near completion, with rainwater to be collected in sump wells and discharged into nearby nullahs, which will also serve to irrigate green belts along the square.

Upon full completion, more than 250,000 vehicles are expected to pass through Kutchery Chowk daily without traffic signals or congestion. The Parks and Horticulture Agency has been assigned a revised horticulture plan, with work already initiated at Jinnah Park.

Divisional Commissioner Abdul Aamer Khattak has urged authorities to adhere to the stipulated timeframe, citing ongoing road closures affecting motorists. The project is on course for completion by the end of April 2026.

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CategoriesNews Economy Investment

Banks to Remain Closed from March 20 to 23 for Eid and Pakistan Day

ISLAMABAD: The State Bank of Pakistan (SBP) has announced that banks and financial institutions across the country will remain closed for four consecutive days from March 20 to March 23 due to Eid-ul-Fitr holidays, the weekly weekend, and Pakistan Day.

According to the central bank’s schedule, March 20 and 21 will be observed as public holidays on account of Eid al-Fitr. These will be followed by the regular weekly holiday on Sunday, March 22, and a public holiday on March 23 to mark Pakistan Day.

The closure will apply to all commercial banks, development finance institutions, and microfinance banks operating nationwide. The State Bank of Pakistan will also remain closed during this period.

Following the holiday break, normal banking operations are expected to resume on March 24.

The federal government has already declared Eid holidays for both five-day and six-day working offices, aligning with the banking schedule. The extended closure period may affect routine financial transactions, including in-branch services and processing activities.

Customers are expected to rely on digital banking channels and ATMs for essential services during the holiday period.

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