The Punjab government has imposed 16% sales tax on commercial property rent from July 1, 2025 under the Punjab Finance Act 2025. This tax will be applicable on all “fixed fee invoices” relating to the rent of immovable commercial property. Only residential houses rented out for personal residence are exempted from this tax. M. Tanveer, patron-in-chief of the United Business Group (UBG), has...
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...
Real estate plays a major role in everyday economic survival but housing expenses take up a substantial portion of a household’s budget, leaving little room for savings, investments, or other essential expenses. The increasing cost of living — driven by inflation, utility bills, and everyday expenses — has made it harder for families from the middle-income group to sustain themselves, reported by...
The inauguration of the New Gwadar International Airport, scheduled for September 2023, has been pushed to June 2024. https://twitter.com/iAdnanAamir/status/1705911931217850635 Reports indicate that the delay stems from the late arrival of airport equipment and technology from China to Pakistan, with these goods expected to reach Gwadar by sea later this month. Situated 26 kilometers northeast of...
The construction of Dadocha Dam is set to cater to the needs of Rawalpindi residents by providing potable water, irrigation, and power generation. Commissioner Rawalpindi Liaquat Ali Chattha highlighted that the residents of Rawalpindi need 65 million gallons of water that could be raised upto 90 million gallons. “The district government is supplying 51 million gallons of water to residents,” he...
The National Economic Council (ECNEC) approved the funding for various road infrastructure projects, including Rawalpindi Ring Road and Lai Nullah Express Way as well as for poverty alleviation in Southern Punjab. According to details, ECNEC approved the project of land acquisition for Leh Expressway & Flood Channel, Rawalpindi worth Rs. 24,96 million. The project will be executed by Rawalpindi...
ECNEC considered and approved the revised Hyderabad–Sukkur Motorway project on Build Operate Transfer (BOT) basis at a cost of Rs19.1 billion. The project will be executed by the National Highway Authority (NHA) and envisages the construction of a 306 km long, six lane, divided and fenced road between the two...
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...
The Rawalpindi Ring Road project is being implemented very fast and in this regard PDWP (Provincial Development Working Party) has approved Rs 24 billion for PC-1 under which a 38.3 km main carriage will be constructed. This project will start from Banth at GT Road N5 till Thalian...
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...
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