CJP Gulzar Ahmed observed that removal of encroachments from government lands was the responsibility of the Revenue department and said the whole of Karachi had been developed on encroached government land. The court observed that high rises have been constructed on encroached government lands at the Super Highway ahead of the University Road where boundary walls have been raised by...
Punjab Govt has planned to build the apartment complex on an area of around 8,500 kanal for 35,000 units for Naya Pakistan Housing in Lahore within three years. Lahore Development Authority (LDA) has finally succeeded in reducing the cost of a 650 sq. ft single-storey housing unit from over Rs3.855 million to Rs2.224 million in the first phase of LDA’s Naya Pakistan Housing Scheme in Lahore. Under...
A persistent hike in steel and cement prices has continued to nullify the Prime Minister Imran Khan's Construction Package under a fixed tax regime for the construction industry. For the week ended 31st Dec 2020, Cement prices inched up by +2% on month-on-month basis to PKR 587/bag. Prices in North region saw an increase of +3%m/m to PKR 574/bag whereas in South prices remained stagnant PKR...
Prime Minister Imran Khan announced that the Govt of Pakistan has extended the fixed tax regime to Dec 31, 2021. He said this had been a big demand from the construction industry which was why they were given an "extra year". The Prime Minister said, "We believe that the economic activity that this will generate only in Punjab will be equivalent to Rs1,500bn and will result in 250,000 jobs. Similar...
After Canal Road and Jail Road, Ferozepur Road will also become a signal free corridor decided by Lahore Development Authority. The LDA has designed a protected U-turn on Qainchi & at the Walton stops. PHA has issued the NOC, in this regard. Under the plan, a new road and a new U-turn will be built. For which Burlab Road land on Ferozepur Road will be acquired. For the project, LDA has...
The govt of Pakistan is considering giving 3-6 months extension in Prime Minister Imran Khan’s tax amnesty scheme for the construction sector. The scheme is going to expire on tomorrow. According to State Bank of Pakistan, on the back of the government housing package, strong construction momentum drove up cement sales to record levels in Q1 FY21. The deliberations to extend the scheme have...
Pakistani ambassador to Germany, Dr Mohammad Faisal, said on Tuesday he had met Dieter Mettke from the multinational IKEA conglomerate who was en route to Pakistan to start IKEA operations there. “Met Dieter Mettke @IKEA_Deutchland. He is going to #Pakistan to be Incharge of #ikea operations,” Ambassador Faisal said on Twitter. “We look forward to #ikea opening up stores in major cities of...
Lebanese Consortium, Darul Handsa, has been selected after evaluation of the technical proposal submitted by the three companies for preparation of new Master Plan 2050 for Lahore, the provincial capital. Lahore Development Authority Director-General Ahmed Aziz Tarar chaired a meeting of the consultant committee to finalise who will be selected. A financial bid of Rs520 million for the qualifying...
Keeping in view the increasing population as well as various urban issues, the government has finally decided to bifurcate Lahore City district into City and Saddar districts, in order to manage the administrative and financial matters in a better way. The Lahore DC explained that the proposal of the creation of two new administrative districts, namely Lahore City and Lahore Saddar, in the present...
The Economic Coordination Committee (ECC) of the Cabinet on Thursday “endorsed” Rs739 billion Karachi Transformation Plan (KTP) and allowed revision in the Master Plan for five terminals at Port Qasim. The meeting of the ECC presided over by Finance Minister Dr Abdul Hafeez Shaikh. ECC discussed the plan thoroughly and endorsed, in principle, with the direction to secure approval from all...
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