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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.

Kachehry Chowk Project
CategoriesNews Construction Developments Economy

Construction Material Prices Drive Kachehry Chowk Project Cost Up by Rs3 Billion

RAWALPINDI: The ambitious District Kachehry underpass, overhead bridge, and pedestrian bridges project in Rawalpindi has witnessed significant cost escalation, with the budget rising from Rs16 billion to Rs19 billion. Authorities attribute the sharp increase to skyrocketing prices of key construction materials, including cement, sand, and steel, which have placed considerable financial strain on the infrastructure initiative.

In addition to the cost overrun, the project has suffered a 30-day delay in its scheduled completion. Eid holidays and persistent heavy rainfall over the past three weeks have disrupted construction timelines, pushing the expected completion date from April 30 to May 30, 2026. Preparations for the inauguration ceremony have consequently been suspended until further notice.

Rawalpindi Commissioner Aamir Khattak has taken strict notice of the setback and issued firm directives to the concerned authorities to ensure the project is completed by May 30 without any further extension. During a recent site visit alongside Frontier Works Organisation officials, the commissioner reviewed construction progress firsthand and received detailed briefings from engineers and contractors.

Current figures indicate that overall construction progress stands at 76 percent, with work being carried out in double shifts to compensate for lost time. Physical progress at Kachehry intersection stands at 74 percent, 72 percent at Iftikhar Janjua, and 71 percent at Annex Chowk. Utility ducts are 83 percent complete, pedestrian bridges 50 percent, the tube well 96 percent, and the retaining wall 98 percent complete.

The project has also sparked controversy following the closure of the 200-year-old main gate of the district courts and adjoining access routes serving multiple judicial institutions. Judges, lawyers, and court staff have formally protested the closure, prompting the matter to be escalated to the High Court. Authorities have cited security concerns as justification, while legal community representatives have deemed alternative routes unsafe.

Launched on November 3, 2025, the project remains on course for its revised May 2026 deadline.

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Gold Surges Rs15,700
CategoriesNews Economy

Gold Surges Rs15,700 per Tola in Pakistan After US-Iran Ceasefire Agreement

KARACHI: Gold prices in Pakistan witnessed a significant single-day surge on Wednesday, with the per-tola rate climbing by Rs15,700 to reach Rs504,162, as international bullion markets rallied on a temporary breakthrough in the geopolitical standoff between the United States and Iran.

The All-Pakistan Gems and Jewellers Sarafa Association confirmed that the price of 10 grams of gold also rose by Rs13,460, settling at Rs432,237. Silver followed the upward trend, gaining Rs440 to trade at Rs8,184 per tola. The gains came a day after gold had declined, with the per-tola rate having closed at Rs488,462 on Tuesday.

On the international front, spot gold climbed 1.2 percent to $4,756.37 per ounce during mid-session trading, having earlier touched a gain of over 3 percent its strongest level since March 19. June delivery futures on US exchanges advanced 2.1 percent to $4,782.70 per ounce.

The primary catalyst behind the rally was a two-week ceasefire agreement between Washington and Tehran, reportedly facilitated through Pakistan’s diplomatic engagement. The truce prompted a retreat in both oil prices and the US dollar, conditions that traditionally bolster demand for gold as a store of value and safe-haven asset.

The Pakistani rupee registered a marginal gain of Rs0.01, settling at 279.05 against the US dollar, as the greenback touched a one-month low in global currency markets. Analysts anticipate continued volatility in gold prices, with movements closely tied to developments in the Middle East and signals from the Federal Reserve in the near term.

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CategoriesNews Economy Investment Property Taxes Trade

Pakistan’s OPF launches global outreach drive, seeks mandatory diaspora enrolment

ISLAMABAD: Over 12 million Pakistanis live and work outside the country. Until now, the government had no formal system to register, track, or serve them. The OPF is moving to change that, and its chairman is personally carrying that message to every major diaspora hub.”

Every year, Pakistanis living abroad send billions of dollars back home. Last year, that figure hit a record $38.3 billion. Yet, despite that contribution, the government had no formal, structured relationship with these citizens. That is now changing, and changing fast.

OPF Chairman Syed Qamar Raza Shah is currently on an international tour spanning Japan, South Korea, Germany, and the UAE. At each stop, he has been sitting with Pakistani community members, listening to their concerns, and making commitments on the spot. The tour is not just a goodwill exercise. It is laying the ground for the most significant changes to the Overseas Pakistanis Foundation in its 45-year history.

In Japan, community leader Haji Syed Saleem Shah described the visit as a turning point. Pakistanis there raised long-standing problems, including jobs, education, legal disputes, and property matters back home. For many, it was the first time such issues were heard at a senior government level. The OPF Chairman gave direct instructions for urgent cases to be resolved immediately.

“This visit has given new hope to the Pakistani community in Japan. For the first time, their issues were seriously heard at such a high level.”
— Haji Syed Saleem Shah, Chairman, Ahl-e-Bait Foundation Japan

The same pattern repeated in the UAE. There, the OPF Chairman went a step further — announcing a formal proposal to make OPF membership compulsory for all overseas Pakistanis worldwide. Under the proposal, every Pakistani abroad would be required to register with the foundation and pay a one-time fee of Rs10,000 (around $35). The proposal now awaits approval from Prime Minister Shehbaz Sharif.

To go alongside the obligation, OPF has launched the Overseas Pakistanis Education Fund (OPEF), a scholarship program for children and spouses of overseas Pakistanis studying in Pakistani universities and colleges. The deadline to apply is April 30, 2026.

Two moves together tell the full story: the government wants to register its diaspora, fund its operations through their fees, and in return, invest in their families back home.

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CategoriesNews Economy Investment Trade

PSX Gains 12,362 Points as Pakistan Secures US–Iran Ceasefire

ISLAMABAD: The Pakistan Stock Exchange (PSX) recorded one of its sharpest single-day gains on Wednesday, with the benchmark KSE-100 index rising 12,362 points, or 8.15%, to close at 164,035.83. The surge was triggered by news that Pakistan had mediated a two-week ceasefire between the United States and Iran, pausing an escalating military conflict in the Middle East.

Trading was briefly halted following the rapid climb and resumed at 10:42 AM. The previous session had closed at 151,673.45 points.

The ceasefire was agreed upon less than two hours before a deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz. Iran’s Foreign Minister Abbas Araqchi confirmed that Tehran would halt counter-attacks and ensure safe passage through the waterway, conditional on the cessation of attacks against Iran.

Prime Minister Shehbaz Sharif announced that he has invited the leadership of both nations to Islamabad on April 10 for further negotiations aimed at reaching a conclusive agreement.

The diplomatic development was accompanied by a sharp decline in international oil prices, which fell approximately 15%. Analysts noted that lower energy costs ease fears of imported inflation and reduce pressure on Pakistan’s external accounts.

Maaz Mulla of Topline Securities described the session as a broad-based rally driven by two simultaneous tailwinds: diplomatic de-escalation and softer energy prices. He noted that with Islamabad set to host peace talks on April 10, investors moved quickly to price in reduced geopolitical risk.

Prior to Wednesday’s session, the KSE-100 had corrected by 20% to 22%, largely due to regional tensions and global macroeconomic uncertainty. Wednesday’s gains represent a significant reversal of that decline, though analysts caution that the rally’s sustainability will depend on the outcome of the April 10 talks.

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CategoriesNews Economy Investment Trade

Finance minister, US envoy review economic reforms and investment prospects

ISLAMABAD: Pakistan’s Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with United States Chargé d’Affaires to Pakistan, Natalie Baker, on Thursday to discuss bilateral economic ties, trade, and investment.

The meeting, held at the Finance Division in Islamabad, covered the state of Pakistan-US relations, current economic developments, and ways to expand cooperation in key sectors, including energy, mining, technology, and logistics.

Baker highlighted a recent symposium held in Washington by the Pakistan Caucus in the US Congress, which brought together policymakers, diaspora representatives, and business leaders to explore areas of future cooperation. She described the overall direction of bilateral engagement as positive.

Aurangzeb briefed the US delegation on steps taken by the Pakistani government to address challenges in the energy sector, including procurement, pricing, and targeted subsidies for vulnerable groups such as small farmers and public transport users. He also pointed to the effects of rising global oil prices on Pakistan’s import costs, inflation, and broader economic stability.

The two sides discussed Pakistan’s ongoing engagement with international financial institutions, including progress under its current International Monetary Fund programme. Aurangzeb reaffirmed the government’s commitment to fiscal discipline while noting the need for flexibility in light of global and regional developments.

Baker expressed US support for Pakistan’s economic reform agenda and interest in expanding investment across multiple sectors. Both sides discussed participation in upcoming forums, including the Select USA Investment Summit, and explored collaboration on infrastructure, digital connectivity, and regional trade.

The finance minister stressed Pakistan’s focus on structural reforms, export-led growth, and creating a more business-friendly environment to attract foreign direct investment.

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CategoriesNews Economy Trade

Malaysian Cargo Arrival Highlights Gwadar’s Growing Role in Global Trade

GWADAR: Gwadar Port has received a cargo shipment of 14,629 metric tons from Malaysia, port authorities confirmed on Monday. The shipment was successfully unloaded at the port, which is located along the Arabian Sea coast in Balochistan, Pakistan.

Port officials stated that the arrival of this shipment indicates that more international trading partners are choosing Gwadar as a preferred entry point for goods into the region. The port has seen a steady rise in incoming vessels over recent months, with shipments arriving from multiple countries.

This increase in activity is partly linked to changes in global shipping. Ongoing tensions in the Gulf region have prompted many shipping companies to seek safer, more reliable routes. Gwadar, due to its location near key trade lanes, has become a practical choice for several carriers.

Pakistan’s ports as a whole have recorded stronger numbers in early 2026. Karachi Port handled over 11,000 cargo containers in March 2026, a figure that exceeds the entire volume processed throughout 2025. Gwadar is also seeing more vessels arriving compared to previous periods.

Authorities noted that Gwadar Port offers storage benefits and modern handling facilities, which continue to attract foreign shipping interest. Experts have called on the government to keep improving port services and keep costs competitive so that this growth can be maintained over the long term.

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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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