The rates of the Capital Gains Tax (CGT) and Withholding Tax on immovable properties would be rationalized in the upcoming budget (2025-26) to facilitate buyers and sellers of real estate sector from July 1 2025, sources told daily Business Recorder. The rates of withholding tax would be reduced on the import of raw materials/inputs in federal budget (2025-26). The rates of withholding taxes would also...
Pakistan Telecommunication Company Limited (PTCL) has declared the sale of its prime property located on I.I. Chundrigarh Road in Karachi, adjacent to Jang Press, through a transparent and competitive bidding process. The 13,583-square-yard (approximately 27 kanal) plot, situated adjacent to Jang Press, boasts a corner location with a 500-foot frontage on I.I. Chundrigar Road. Given its prominent...
Over 200 kanal land of a cooperative housing society was illegally transferred to property tycoon Malik Riaz’s Bahria Town Lahore, the National Accountability Bureau (NAB) said, Daily Dawn Reported. NAB conducted an inquiry against officials of the Official Employees Cooperative Housing Society Ltd, revenue department and Bahria Town Lahore over the illegal transfer of the land. “The inquiry...
Capital Administration (CDA) had announced plans to launch a system for online property verification in Islamabad. With the launch of this system, people will now be able to verify the authenticity of any real estate project from the office of Deputy Commissioner (DC) Islamabad before investing their hard-earned money in it. https://www.cda.gov.pk/ “From now onwards, anyone who wants to buy...
Prime Minister Imran Khan directed the officials on Tuesday to ensure completion of all projects under the Karachi Transformation Plan (KTP) within the timelines. Imran, during a visit to the provincial capital, chaired a meeting to review the progress of ongoing development projects under the KTP. The meeting was attended by Sindh Governor Imran Ismail, Planning Minister Asad Umar, Railways Minister...
Bank Al Habib Limited (BAHL) announced that it has purchased ‘Centrepoint Building’ from TPL Properties, located in Karachi. TPL Properties also notified to Pakistan Stock Exchange that “Further to our earlier disclosures of August 20, 2020 regarding sale of the Company’s flagship project “Centrepoint” located off Shaheed-e-Millat Expressway near KPT Interchange, Karachi, we are pleased to...
The National Highways Authority (NHA) Executive Board has reviewed its earlier decision and approved three mega road projects including Hyderabad-Sukkur Motorway (M-6), a critical component of the China-Pakistan Economic Corridor (CPEC) on Public Private Partnership (PPP) mode with an upfront government support in the form of Viability Gap Funding (VGF), Business Recorder informed. For this purpose,...
The NED University of Engineering & Technology’s Centre, Karachi for Affordable Housing & Sustainable Built Environment (CAHSBE) inaugurated an affordable low-cost model home at the varsity’s campus on University Road. The varsity had established the centre in the year 2019 in support of the vision of Prime Minister Imran Khan to provide housing units with allied facilities to all,...
Construction of China-Pakistan Economic Corridor (CPEC) & Special economic zones is a catalyst for Pakistan’s industrialization. Besides, economic growth, people would also see millions of jobs opportunities through industrialization of these Industrial Special Economic Zones. At a meeting of 7th Board of Approvals (BoA) of the Board of Investment (BoI) chaired by the Prime Minister Imran Khan,...
Construction work at Shaukat khanum Memorial Cancer Hospital and Research Centre Karachi is underway at full pace and this will be the third and largest Shaukat Khanum hospital of Pakistan. The Shaukat Khanum Memorial Trust (SKMT) has established a number of hospitals, laboratories, and research centres across Pakistan. The Shaukat Khanum Memorial Cancer Hospital and Research Centre in Lahore was the...
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