Four consortiums of international town planning firms, having representatives of 11 companies submitted bids for Islamabad Master plan, reported by Dawn News. “The response of international firms is very good. Four consortiums have submitted their bids and after one month we will open the financial bids to award contract to the lowest bidder,” said a senior officer of the CDA. He said the...
Anti-Corruption Rawalpindi has registered a case against seven persons, including the owners of Blue World City Housing Society and the director of Rawalpindi Development Authority (RDA), for forgery, possession and sale of government land and causing billions of rupees to the exchequer. https://www.youtube.com/watch?v=MxdID09JZdM Earlier, Chairman National Accountability Bureau (NAB)...
The Prime Minister’s incentive scheme for builders & developers of Pakistan is now picking-up showing signs of success and a great amount of interest by the construction industry. According to the released information by the Federal Board of Revenue, till 19th October 2020, a total of 127 projects have been registered with a total projected cost of Rs. 63 billion. In addition, a total of 108...
Karachi Development Authority (KDA) Director General Asif Ikram said that KDA was ready for joint venture with builders and developers for low-cost housing schemes. “We are trying to provide free land for Naya Pakistan Housing scheme in Sindh,” he said. Habib Bank Limited Head of Islamic Finance Salimullah Shaikh and Meezan Bank General Manager Tanveer Hussain said that banks were ready to...
Builders and developers can save around six times on taxes if they register under the Prime Minister Imran Khan's construction package as it has a fixed regime. “This saving on tax will add up to whatever profit you make,” explained the FBR’s Abdul Hafeez while addressing them at a seminar on the ‘PM’s Package on Naya Pakistan Housing Scheme’ at the Association of Builders and Developers...
Federal government constituted a commission to review the master plan of Islamabad. Minister for Interior Ijaz Ahmed Shah informed the Senate that the constituted commission prioritized its work according to the Terms of References (TORs) for short and long term measures and gave its suggestions. He also said that the commission submitted various suggestion in this regard including reviewing proposed...
Islamabad, a beautiful capital of Pakistan, along with Rawalpindi, a fourth largest city of Pakistan gives some exciting investment opportunities in the Property and Real Estate sector. Twin cities of Rawalpindi & Islamabad is surrounded with beautiful scenes and places. Head offices of many NMCs, Banks, along with Govt ministries are located here. It now has new Airport and longest route of...
Rawalpindi Development Authority (RDA) approved the feasibility study for construction of Metropolis (Metropolitan area) Zone along with New Islamabad Airport was also approved. This was decided at the 49th governing body meeting of Rawalpindi Development Authority (RDA) was held at the Conference Room here on Tuesday. Chairman RDA Tariq Mehmood Murtaza chaired the meeting. The Governing body...
Federal Board of Revenue (FBR) has made significant changes in the taxation of capital gains on disposal of immovable property of Pakistan. Amendment in the Income Tax Ordinance 2002, through the Finance Act 2020, reduces holding period and tax rates on different amounts for computation of capital gains on disposal of immovable property According to a Circular No. 3 issued on September 3, 2020 by...
The Federal & Punjab governments signed a memorandum of understanding (MoU) with the China Civil Engineering Construction Company (CCECC), to begin the feasibility study of the Rawalpindi-Islamabad Circular Railway project. The MoU was signed by Capital Development Authority (CDA) Member Planning Dr Shahid Mehmood on behalf of the federal government, Rawalpindi Development Authority (RDA) Chief...
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