Pakistan Railways membership in an international organization may be revoked. Pakistan Railways (PR) membership in the Intergovernmental Organization for International Carriage by Rail (OTIF) — established under the Convention on International Carriage by Rail (COTIF) — is likely to be suspended due to the former’s two-year failure to pay the annual membership fee.
Membership in COTIF is required for the opening of the intercontinental rail train business, Dawn has learned. COTIF is a unified railway law connecting Europe, Asia, and Africa.
PR has failed to pay the annual OTIF-COTIF membership fee for two years (2020-21), citing the financial situation as an excuse (due to Covid-19 and other reasons). However, because this membership is required to begin international rail freight operations, the PR’s default is also one of the several reasons for the delayed launch/resumption of the Istanbul-Tehran-Islamabad freight train, a source said.
HE CONTINUED, the PR should have paid the charge (about $90,000 per year), as this is a small sum for a department with nearly 80,000 employees and annual revenue in the billions of rupees.
Railways chairman says they would pay dues promptly to maintain membership.
According to the Bern-based organization (OTIF-COTIF), its mission is to address all areas of international rail transportation to promote, improve, and facilitate it. Thus, it is devoted entirely to rail transport on a global scale.
It is the sector’s oldest international organization, having been founded in 1893. According to the OTIF-2020 COTIF’s annual report, the organization has 51 member nations and one regional economic integration organization. It employs simple and effective instruments to promote, develop, and facilitate international rail carriage by offering legal and technological compatibility.
If a PR’s membership is stopped for non-payment of the membership fee, it won’t be easy to reinstate it promptly. The insider expressed concern that it is a question of the country’s image. However, Dr. Habibur Rehman Gilani, chairman/federal secretary of Pakistan Railway, stated that the company would soon pay its dues to maintain its OTIF-COTIF membership, which is critical for the international rail freight sector.
He added that the railroads’ ministry had also addressed a letter to the OTIF-COTIF expressing dissatisfaction with the OTIF-failure COTIF’s to support the capacity building of public relations officers, their involvement in research, and international events, and so on. The membership of Pakistan Railways in an international body may be revoked.
“The non-payment of the price is due to the financial difficulty brought about by Covid-19. However, as a member, we have the right to inquire about the facilitation they have committed to providing member states,” he explained.
Imran Hayat, PR Director General (Operations), confessed to Dawn that there may have been concerns with non-payment during the last two years due to the economic downturn.
Since 2010, Pakistan Railways has not run an international train. In addition, the Covid-19 pandemic has also had a toll on income, as the PR trains are operating at only 70% capacity. The membership of Pakistan Railways in an international body may be revoked.
However, he noted, PR is on track to restart international traffic shortly. The membership of Pakistan Railways in an international body may be revoked.
https://estateland.com.pk/wp-content/uploads/2021/09/Pakistan-Railways-international-membership-may-be-cancelled.jpg5951360estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2021-09-24 07:09:012021-09-24 11:33:31Pakistan Railways international membership may be cancelled
Is Pakistan dubbed “Plotistan”? The recent uproar over plot allotmentsto officials and judges has reintroduced a shadowy facet of Pakistani administration — the practice of transferring valuable land at subsidized rates. Although the budget has been canceled, it is unlikely to end a practice that has already cost Pakistan a fortune since the program’s inception.
More critical than sporadic outbreaks of rage is the need to comprehend the source of this unwarranted generosity. Unfortunately, little knowledge and research have been conducted on the antecedents of land giveaways and related issues. That is expected to change with future PIDE research co-authored by the institution’s vice-chancellor Dr. Nadeem, who coined the term ‘Plotistan.’ While the subject is public wealth, land-related concerns have gotten substantial discussion, as land is Pakistan’s most valuable asset. The next section summarises the findings.
To begin, a word on the critical nature of this topic. From a purely social justice standpoint, it is revolting that in a country where the majority of the population struggles to purchase their piece of land for housing, incredibly valuable land is donated to a tiny group of individuals at absurdly low costs. Additionally, if assets such as public land are maintained professionally and effectively, there may be no need for extractive taxation or the use of expensive loans to finance development initiatives.
Let us return to the issue of historical antecedents, which necessitates a journey back to the era of British administration. The Empire had its priorities and ambitions, and gifting ‘royal’ land at extremely low prices (or free) was an effective method of ensuring that realized official objectives. For example, canal colonies like Lyallpur (Faisalabad) would provide cash and assist in earning allegiance and develop denser settlements on British India’s western frontier. They reasoned that the best way to accomplish this would be to give land (and private entitlements) at rock-bottom prices or as an incentive. Moreover, policies such as the gifting of land to military martyrs go back to a time when military people died in the service of the Empire.
Land giveaways have evolved in certain respects
In Pakistan’s example, land giveaways have evolved from being a need in difficult conditions to providing a constitutional and legal basis (in 1973) for the government to engage in this imprudent largesse. In 1947, as waves of migrants came on the new country, the government was forced to establish settlements on its territory. With little or no experience managing land or housing, it turned to numerous cooperatives founded during colonial periods to address these concerns. For example, the Karachi Cooperative Housing Society Union leased 1,200 acres of public property.
Briefly, the public sector assumed responsibility for housing provision, owing to donor funding (donors developed master plans’ for cities such Pakistan, Karachi, Lahore, and Islamabad) and court rulings establishing housing as a fundamental right. By the 1970s, however, there was an unspoken acknowledgment even within ruling circles that the government needed to withdraw from this domain due to the outcomes of previous excursions, which included corrupt activities and rent-seeking.
Regrettably, the conspiracy culture had grown firmly ingrained in the public sector by that time. The 1973 Constitution put any questions to rest. Article 24 sub-clause 3 ‘e’ ‘ii’ requires the government to provide housing and related services to all citizens or “any specified class of citizens.” Legally, the only need is that the “public interest” is served! Regrettably, this legislative authorization for public-sector indulgence in land and homes merely served to reinforce the already-established culture of plots and privileges.
Except for a few random studies, there has been no aggregate assessment of the loss caused by subsidized land grants. For example, according to a 1991 study, Punjab’s provincial officials distributed 318,952 plots at a ‘DC’ (subsidized) rate over four decades, earning a meager Rs6.9 billion total. However, the market price was Rs63.9bn, implying a massive subsidy of Rs57bn, roughly similar to the federal government’s total revenue that year. Consider the amount that would surface if ever assessed Pakistan-wide losses.
The PIDE research elucidates the numerous novel strategies used to obtain these subsidized goods. For example, government agencies are littered with ‘housing societies’ comprised of personnel who have successfully carved up valuable land among themselves. Over time, cooperatives have been another preferred method of obtaining this subsidized favor. As a result, it is past time to demolish this colonial structure and avert Pakistan’s devolution into ‘Plotistan.’
This endemic culture of subsidized plots has harmed Pakistan in numerous ways. In the twenty-first century, investing in land remains Pakistan’s primary focus, mostly because public laws have ensured it is scarce and thus expensive. It partially explains why alternative wealth-creating routes (such as the stock exchange) account for a negligible portion of the economy. Additionally, we see millions of intelligent, brilliant young people enlisting in the civil service and military forces rather than pursuing careers as entrepreneurs and businesses. A significant motivation is a potential for perks and privileges (subsidized plots are a key draw). In other words, the plots and perks culture has become a self-imposed, binding constraint on Pakistan’s capacity for wealth development. As a result, it is past time to dismantle this colonial structure and avert Pakistan’s devolution into ‘Plotistan.’
Poor management of public assets (particularly land) has incurred enormous costs for Pakistan’s exchequer. Moreover, managing land and allocating subsidized plots has resulted in a slew of difficulties for the country, ranging from ever-expanding, unmanageable towns to rent-seeking and massive wealth disparities.
Therefore, it is time to dismantle this colonial construct and prevent Pakistan from devolving into ‘Plotistan.’ The public sector must relinquish its more-than-active involvement in this field.
An author is a research fellow and economist at the Pakistan Institute of Development Economics.
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Prime Minister Imran Khan launched the Naya Pakistan Housing Scheme, an extraordinary housing development. The major purpose of the Naya Pakistan Housing Scheme is to build 5 million residences for persons from lower socio-economic backgrounds. On the 10th of October 2018, Prime Minister Imran Khan unveiled a scheme within which every one of the selected few candidates will be given a home. This article will discuss the PM housing loan scheme in Pakistan and how to apply online?
NPHA
People with modest salaries and those who do not yet own a home may be among the registrants. For this initiative, the state has established the Naya Pakistan Housing Authority (NPHA), which would issue all necessary approvals to building companies and investigate various issues involved in the project. As a benchmark of thorough socio-economic development, offer five million residential units with linked facilities to all residents, emphasizing the financially underprivileged and middle-income areas. As a result, the country’s industrial development and jobs opportunities will be revitalized.
Locations
The PM housing loan scheme, also called Apna Ghar Housing Scheme, is implemented in several parts of Pakistan. The areas have been chosen, and development has begun in several locations. The Federal Government Employees Housing Authority announced Naya Pakistan Housing Scheme. The NPHA intends to evaluate Pakistan’s undeveloped territory to ensure that development work can begin as soon as possible. Considering the survey, the National Park Service has announced that these residences will be built in the following locations:
Islamabad
Lahore
Faisalabad
Sukkur
Muzaffargarh
Quetta
Gilgit
Muzaffarabad
Swat
Multan
Rahim Yar Khan
Layyah
Bahawalpur
Vehari
Kasur
Sialkot
Jhelum
Gujranwala
Dera Ghazi Khan
Working Model of the Naya Pakistan Housing Project
The government and business sector collaborated on the NPHS – PM Housing Loan Scheme Pakistan. According to the plan, the government will allocate land for private development firms to build residences. In addition, the government intends to sell these homes to the general populace in 15 to 20-year installments. The public is required to contribute 10% of the total value of the house up the advance.
How to Apply for a Home in the PM Housing Loan Scheme
You can register for the PM housing loan scheme online at nphp.nadra.gov.pk or in person at your nearest Nadra branch. One individual from each household is qualified to participate; please double-check that your ID card and tracking code are valid. The Nadra Officer’s signature is on the application form. The Housing & Development Authority of Naya Pakistan intends to ensure that every Pakistani has their own home. The Naya Pakistan Housing Scheme can be registered in two ways:
Online registration
To begin, go to this address: https://nphp.nadra.gov.pk.
Then you must register for the PM Housing Loan Scheme.
Now, go to the website and fill out the application form. Give all your information, including your name, CNIC information, phone/mobile number, and current address.
You must also offer information on your monthly earnings.
You also can specify your chosen district and tehsil/union body where you wish the house to be built.
Select an installment plan to pay the 250 registration fee.
Easy Paisa, Jazz Cash, Credit/Debit Card, and E-Sahulat Center are all options for paying the registration fee.
Finally, go over everything and finish the registration form.
NADRA E-Sahulat Centre registration
Print the registration form from https://nphp.nadra.gov.pk.
Read all of the guidelines attentively before filling out the form with all essential information, including your name, CNIC number, and monthly income.
After that, go to the local NADRA E-Sahulat center & present the registration form to the E-Sahulat center’s registration agent.
Pay the agent a registering fee of Rs. 250 and obtain confirmation of request completion from the agent.
Documents Required for a Home in the NPHS
What you’ll need to Register for the PM Housing Loan Scheme
Two pictures of passport size
A copy of your CNIC or NICOP card is required.
An Rs. 250 non-refundable registration fee is required.
The application form that is filled out
Naya Pakistan Housing Scheme Eligibility Criteria
It would be best if you were a Pakistani national.
This program only allows one family member to apply.
A valid computerized national identity card is required of the applicant (CNIC).
Applicants who do not own a home in Pakistan will be given priority.
PM hosing loan scheme Pakistan is a bold step, and it is likely to serve the country’s low-middle classes effectively. However, some detractors argue that this initiative is not feasible due to the country’s financial position. Because the residences will be developed in collaboration with the private industry, the private sector will need to borrow money from commercial banks in order to complete a project of this magnitude. As a result, the State Bank will have to grant some form of financial assistance to the developers. You may easy apply online to make your desire to buy a home truth and safeguard your tomorrow with the support of this program.
Experts at Estate landare available for your guidance.
Lahore is one of Pakistan’s most advanced and well-built metropolises, making it an excellent place to live and invest. As a result, speculators always prioritize Lahore for investment goals, while ordinary customers prefer to buy property in Lahore because of the city’s benefits and trustworthiness. As a result, the inquiry emerges as to which new housing societies in Lahore 2021 are good. To clear this up, we’ve compiled a list of housing societies in which you can engage without fear because they’re run by reputable firms that promise no future instability, are fully constructed with all amenities, and offer a decent money-back plan for buyers.
Bahria Town Lahore
Bahria Town Lahore is a private enclave that is one of Lahore’s most contemporary and luxurious additions to the city’s lifestyle or state-of-the-art development. Bahria Town Lahore’s competence in-town development and metropolitan trend-setting characteristics have created this region one of the finest neighborhoods and Pakistan’s most prestigious destination. Sectors A, B, and B, Sector C, Sector D, Sector E, and Sector F are the six sectors of Bahria Town Lahore, further divided into various blocks. Along with these luxuries, most of the properties here have been converted into houses, where residents have settled in and are enjoying the Bahria Town lifestyle. Sector F also provides possibilities to the top-of-the-line entrepreneurs who expect to live here a location to be around their employment spots and organizations. It is currently extremely well known, especially among the business class, for preferences in economic opportunities.
Bahria Orchard Lahore
Bahria Orchard is conveniently located on Raiwind Road in Lahore. Each unit blends the current in leisure and allows you to enjoy the most lively lifestyle in tranquil surroundings. Bahria Orchard is nestled amongst lush green new housing societies in Lahore. Each sphere has its high-end facilities as well as miles of running and bike paths. In addition, equestrian stables and beautiful eighteen-hole championship golf linkages will be available at a game of golf and clubhouse. For all the right reasons & periods, Bahria Orchard is the place to be if you want to live a life that is cultivated naturally.
DHA Lahore
DHA is the city’s first luxurious and inexpensive residential society. In Lahore, the Defense Housing Authority is among the well-planned complexes. DHA Lahore reportedly includes 11 phases in the city. Each DHA phase is divided into several sectors & units, subsequently divided into housing units ranging in size from five Marla to two Kanal. Each section of DHA also contains a core commercial district with commercial businesses and offices that serve the DHA Lahore residents.
Al Noor Orchard
AL Noor OrchardResidential Development Lahore is a well-known brand amid Lahore’s well-established and contemporary apartment complexes, creating new lifestyle benchmarks. AL Noor Gated Community is renowned for its innovative and modern environment, setting it apart from other Lahore residential development. With all of its attractions and advantages, Al Noor Orchard Housing Society proves to be the greatest destination to live or invest in. The ideal location of AL Noor Orchard Lahore increases the quality of this Housing Program. It is situated near the crossroads of Jaranwala and Lahore. It is the perfect choice for individuals who wish to keep tied to Jaranwala while expanding their horizons and living a nice lifestyle. The M2 motorway, which provides quick access to Thokar Niaz Baig as well as Multan Road, is the project’s best feature. Other large projects, such as the International Airport and Theme Park, are contributing to the Al Noor Orchard a new housing societies in Lahore in 2021.
Lahore Smart City
After completing Capital Smart City Islamabad, Habib Rafiq (Pvt) Ltd’s Future Development Holding (Pvt) Ltd is preparing to build Lahore Smart City. Smart City Lahore, such as the capital smart city Islamabad, will be a well-planned residential development with all modern conveniences, modern design, 24-hour security for residents, and a relaxed atmosphere. The most significant aspect of a housing complex is its location; everyone desires to live in a quiet environment. Lahore Smart City is situated near the eastern detour of Lahore on the Kala Shah Kaku CPEC path. This excellent position allows you to live in the wilderness away from city congestion. Moreover, the ring road is close to the Lahore Smart City, so you can quickly enter the city.
Conclusion
To avoid any scam or financial harm, you should only acquire legitimate and recognized houses by the Lahore Development Authority. LDA has cleared all of the schemes as mentioned earlier but constantly double-check before making a choice. Estateland professionals have listed down the new housing societies in Lahore 2021 which will assist you in making an informed decision. Your decision should be based on your plans for the house, whether it is for business or personal use.
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Blue Town Sapphire Lahore is the most renowned housing society developed by the Blue Group of companies. Town Sapphire represents a complete lifestyle, and it is not just a housing society but a timeless monument. Blue Town is the peak of perfection constructed by the BGC-IGC Consortium. The housing society in Lahore has derived inspiration from the glistening blue-colored gemstone sapphire, and the housing scheme aims to offer the residents an extraordinarily luxurious lifestyle at budget-friendly rates.
Furthermore, Blue Town Sapphire is ideally located at an 8-minute drive from the Multan Road Intersection of the Lahore Ring Road and is easily accessible from all the strategic nodes of the city. Moreover, the housing society in Lahore is within proximity of the M-2 Motorway, making it convenient for travelers. Blue Town Sapphire Lahore is the project where your investment and future are 100% secure, and soon it will come 100% within the approved LDA Area for housing Societies, which adds even more value to the housing scheme.
Owners & Developers
The developers and owners of Blue Town Sapphire Lahore is the renowned Blue Group of Companies (BGC). Moreover, They employ a team of highly experienced engineers and architects committed to developing the housing project in the most remarkable manner. Thus, The housing project is created with technical excellence and exclusive planning by developers and will generate a new urbanization source through this initiative.
Blue Group of Companies (BGC):
Blue Group of Companies (BGC) was established in Lahore in 1989. In the start, they were only planning, construction, and building services; however, they quickly won admiration from their consumers and acquired a decent real estate market share with their hard work and determination. Moreover, After 31 prosperous years in the real estate business, they have diversified their portfolio by managing various companies.
Projects of BGC have the competence to influence the long-lasting effects of trust over its clients and investors. Furthermore, Blue Town Sapphire is going to provide a sustainable and environment-friendly atmosphere to investors. Furthermore, it will give the best living standards at cost-effective rates. People have high expectations from BGC because they have the skill to fulfill the dreams of their customers, and this is their second real estate project after the successful launch of Blue World City Islamabad.
The housing scheme is already reaching the height of popularity among its investors as it provides luxury with quality and affordability. Moreover, BGC will achieve another landmark by offering a beautiful Blue Town Lahore in the heart of Pakistan’s second-most populated city and culturally rich city, Lahore.
Structure of Blue Group of Companies:
The rich and extended structure of the company indicates the high level of expertise that it caters to. Below are the different portfolios under the banner of BGC:
Blue Bricks
Blue Properties
Artimmix
Palms
Blue Technologies
Development Status
The development work of the scheme is happening at a rapid pace. Investors and inhabitants can also check it by visiting the site of the society and decide accordingly. Furthermore, the community has advanced infrastructure and modern town planning, and the work on plot developments and amenities is happening at a fast rate.
Location and Map
Blue Town Lahore is situated in one of the ideal locations of Lahore as it is right next to the newly titled zero-point of Lahore, N-5 national Highway, and Manga Raiwind Road Lahore. The location plays a vital role in the development and success rate of any business or real estate project.
Therefore, this is why the developers decided to locate the premium housing society in a prime location. Moreover, the pace of quick investment return depends on the residential projects’ premium actions. Blue Town is located on the new Zero Point Lahore, Linking it to all major and essential roads. Many of its more well-built places are close to renowned housing societies such as Bahria Town, Lake City, and DHA.
The detailed location map of Blue Town Lahore is attached below:
Accessibility:
The location is also ideal in the sense that it is accessible in the following ways:
1-minute drive from N-5 National Highway
2-minute drive from Manga-Raiwind Road, Lahore
10-minute drive from Sunder Industrial Estate Rd, Sundar Sharif, Lahore
7-minute drive from Mal Talib Sarai Rd, Lahore
10- minute drive from Kot Radha Kishan Road, Rosa, Kasur, Lahore
Nearby housing societies:
Blue Town Sapphire Lahore is situated close to several other main landmarks & residential areas, mentioned below:
Blue Town Sapphire’s No Objection Certificate (NOC) is under process by Lahore Development Authority (LDA). Moreover, it will be approved soon, and once the NOC is issued, it is expected that the value of the plots for sale will increase rapidly. Thus, the legality of Blue Town Sapphire Lahore is not questioned once the possession is legal, and this will result in rapid development and fast completion of the project. Furthermore, the investors will entirely trust the property with their profitable investments and high yield on return on investment.
Management of Blue Town Sapphire Lahore has uncovered a precisely detailed master plan of this remarkable state-of-the-art residential society. Blue Town Lahore is approximately 600 Kanal of land area, and it is offering 3 Marlas, 5 Marlas, 8 Marlas, 10 Marlas, and 1 Kanal plot for possession. Moreover, the residential society is also offering 3 marlas, 5marlas, and 8 Marlas commercial plots. Furthermore, the housing scheme is divided into three sectors A, B, and C.
Residential Area
Blue Town Sapphire Lahore is a residential scheme of enormous level and on a convenient location in Lahore. Additionally, It is separated into the 3 sectors and offers a variety of plots at budget-friendly rates.
Land Area
The housing society covers 600 Kanal and is being constructed on international infrastructure development standards.
Sectors
This state-of-the-art remarkable residential society is divided into three types of sectors as follows:
A Sector
B Sector
C Sector
Residential Plot Sizes
Residential plots are available in several sizes as given below:
3 Marlas
5 Marlas
8 Marlas
10 Marlas
1 Kanal
The detailed master plan is attached below:
Payment Plan
Blue Town Sapphire Lahore has an extremely feasible and feasible payment plan. However, the prices and payment plans for plots often fluctuate with time depending on different aspects of the real estate market, such as inflation and general rates in the real estate sector. Moreover, every industry in the housing scheme is located in a precise location with highlighted facilities, and every sector is offering different plots prices. Additionally, Blue Town Sapphire has certainly developed as the major focus of the investment.
Therefore, the payment of the plots is made in easy installments. The scheme’s superior features, prime location, excellent amenities, authentic developer, and rapid development make it an ideal residence and investment hub. Despite that, it is imperative to mention that the information, price, and master plan included are changed until the project is fully completed.
Given below is the updated payment plan:
2 and 4 Year Payment Plan
Salient Features
Blue Town Sapphire Lahore has put in all effort in developing a superior residential society by following international standards for infrastructure development, and plenty of attention is put into the project.
A vast network of roads with advanced technology is installed in the society with all the updated and latest accessories such as street lights, cat-eyes, and signboards.
The paved footpath and joggings tracks have also been developed for the feasibility of the pedestrians, and it gives a magnificent and civilized look to the society.
Construction is being done following international level infrastructure development. Furthermore, Local and foreign engineers were hired and consulted to implement their expertise.
Main boulevards, wide lanes, and streets are part of society.
Pedestrian walkways and jogging track is developed for the inhabitants.
Basic essential utilities such as electricity, gas, and water is provided in a smart, automated manner.
An entirely gated community with CCTV Cameras and security guards who ensure the safety of the residents.
Topmost medical facilities such as Hospitals, laboratories, drugstores, and treatment centers are developed to treat the patients optimally.
Highly qualified doctors and non-medical staff operate the updated healthcare machinery.
Prices of residential and commercial properties is budget-friendly in such an exorbitant-looking society.
The housing society has top educational institutes situated only a few minute’s drive away with great courses. Highly trained academic and nonacademic staff is employed to teach these courses.
Carefully planned sewerage management & waste disposal system is installed with the best expertise.
Commercial centers, markets, and business hubs enhance the utility of this modern society.
Lush green parks and other recreational activities.
Facilities and Amenities
Blue Town Sapphire Lahore is constructed to incorporate all modern housing society facilities and amenities. The level of the latest facilities available in this society is no match in comparison to other communities. Furthermore, from its design stage to the development stage, no detail has been overlooked.
All the amenities and facilities are provided by the diligence of architects, planners, designers, engineers, and various staff members. Moreover, all the effort will guarantee the provision of a luxurious lifestyle in a smart and environment-friendly manner. Thus, blue Town Sapphire is foreseen to be a magnificent housing society with extravagant amenities at low costs.
To fulfill the religious needs of the residents, the developers have constructed a beautiful Jamia mosque with classic architecture and designs. Moreover, another small mosque is being built for each sector to provide feasibility to the worshippers. Furthermore, the grand Jamia mosque has enough capacity that many people will be able to perform their prayers at once without any overcrowding.
Modern Infrastructure
The great housings scheme has excellent modern infrastructure. The road is well connected and provides an example for other builders and developers. The infrastructure of the housing society in Lahore will efficiently facilitate the residents.
Recreational Activities
An extravagant lifestyle needs healthy living ways. Therefore, the society has a botanical garden to provide a natural lifestyle with all the modern amenities. Moreover, the green ambiance provides a unique experience that is difficult to find elsewhere. In addition, for this purpose, the developer is developing lush green parks and gardens, lawns, and other green areas, which will be a signature feature of the society that reflects the community’s elegance.
Education Complex
Another important facility available in the housing society is a lot of educational institutes. Fortunately, The essential educational institutions like schools, colleges, universities, and daycare centers are located within the community, and some are only a few minute’s drive away. Additionally, these educational bodies play an essential role in the mental growth of the unripe minds of children so that they become part of civilized society and lead successful lives.
Walled and Gated Society
A sense of safety is vital for the healthy existence of any society. Blue Town Sapphire Lahore has made a fantastic mechanism of security and safety. CCTV camera is installed CCTV and other surveillance equipment’s are available in the buildings, houses, and schemes to offer the comprehensive and best protection. Moreover, The town is a gated community where entry and exit point is monitored with facial recognition software to allow authorized individuals. The security system is handled by a trained and experienced security staff assisted by the security guards available on the ground.
Health Care
Best healthcare service is offered to the residents of Blue Town Lahore Highly trained doctor and medical staff is employed who is available 24/7. Moreover, The hospitals, labs, and clinics can treat numerous patients efficiently with the help of highly trained staff and medical specialists.
24/7 Basic Utilities:
The developers is committed to offering the residents the best quality living and services. Furthermore, Water pipelines, drainage pipelines, gas lines, and electricity connection is constructed and obscured underground. Additionally, The housing scheme offers 24/7 basic utilities.
Well-Planned Drainage system:
Blue Town Lahore has a well-planned drainage system. Furthermore, the drainage system of Blue Town Lahore is designed to cope with heavy storm rainfall and waste disposal of society.
Pros and Cons
Pros
24/7 water, gas, electricity
Educational Institutions
Recreational Zones
Shopping Malls
Eco-friendly environment
Improved Security System
Very near to the central locations and other societies
Main Boulevard
Security system
Solid waste disposal mechanism
Commercial and business hub
Good investment opportunity
High return on investment
Cons
A general perception of higher prices
Why Should I Invest in Blue Town Sapphire Lahore?
Blue Town Lahore is an excellent investment choice due to several reasons discussed in detail.
Firstly, the architecture is based on a global development program. The society’s architectural engineers take the interests of the Pakistani nation into account and encompass the likenesses of the citizens of the West.
Furthermore, when discussing residential properties, the developers select the prime location of the modern Zero Point, Lahore, which links all the main roads to Lahore and the motorway. The route of Blue Town from Lahore to Multan road is approximately only10 to 15 minutes.
Therefore, it is a golden opportunity for eager buyers, with the best location at very affordable prices. Moreover, as the project is already initiated, investors will visit the site for complete investment satisfaction. Henceforth, investment in Blue Town Lahore is an excellent decision.
Pro Tips
Visit the location of the housing society to ensure that the written records adhere to each of the floor criteria.
All records and document is to be reviewed until the investor is completely satisfied since this prevents confusion, misunderstandings, and hassle.
Conclusion
Blue Town Sapphire Lahore is a remarkable state-of-the-art housing society located in Lahore. If you’re looking for upscale residential housing, this is the place to be. Furthermore, the proximity to numerous critical hubs of Lahore and built-in systems offer comfort, making it more convenient and attractive. Investors and residents searching for profitable future yields shall consider the housing scheme. Moreover, In case of any further queries regarding real estate options available, contact or visit Estate Land Marketing.
FAQ’s
Q1. What is Blue Town Sapphire Lahore?
Ans. It is a residential scheme located in Lahore
Q2. Who are the developers?
Ans. The Blue Group of Companies develops the scheme.
Q3. What type of plots are available?
Ans. Residential and Commercial plot is available in this housing society in lahore.
Q4. Is the payment plan feasible?
Ans. Yes, the payment plan is flexible with convenient payment made in installments
Q5. Where is it located?
Ans. The housing society is located on Zero Point Lahore
Q6. Is it an approved housing society?
Ans. It is soon going to get its approval from Lahore Development Authority
Q7. What type of facility is available?
Ans. Various facilities and amenities are available such as educational institutes, 24/7 utilities, entertainment centers, and recreational activities.
Q8. Is the place secure for residence?
Ans. Yes, it is a completely gated community with CCTV Camera, Security guards and face recognition software.
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Rawalpindi is a large metropolitan town that serves as a center for financial and economic activity. It is Pakistan’s fourth most populous city. It is known as the Twin Cities because of its social & commercial links with Islamabad. In recent years, Rawalpindi and Islamabad have seen a surge in migrants. A slew of new housing projects has sprouted up within the city and on the outskirts to meet these rising housing requirements. The situation of the Rawalpindi housing market has changed after the development of the New Islamabad International Airport. In Rawalpindi and the surrounding districts, there is a long list of building housing society projects. Every housing developer has their own set of innovative ideas. These are complemented with first-rate services and amenities. We’ve compiled a list of the new housing projects in Rawalpindi and discussed an insight with you. Plenty of them is accessible with flexible payment options.
Mumtaz City
Mumtaz Cityis a relatively new housing project in Rawalpindi. Mumtaz Construction Company (Private) Limited is the company behind it. Not only are locals being drawn in, but also ex-pats and visitors from other countries. A significant proportion of 3000 Kanal has been set aside for the project construction. It is thought to be in the best location on the Islamabad Motorway Interchange. It is navigable from practically all city regions, as it is situated by a multitude of connection routes. This project meets a wide range of requirements. Residential units, flats, a commercial center, and farmhouses are all included.
Army Welfare Housing Scheme (DHA-1)
The DHA Phase 1 is one of the largest residential properties with big business and housing competence potential. It is recognized under the title of the Army Welfare Housing Scheme. The new housing projects in Rawalpindi, specifically DHA, are presently considered among the most lucrative for business in the years ahead. This unit has been fully constructed, and it is now the subject of the country’s most affluent housing societies. Over the last year, the value of the plots has increased, and this tendency is projected to continue. As a result, purchasing a home is a viable choice.
PIA Enclave
PIA Enclave is another newly created housing project in Rawalpindi. It is a big draw for aviation professionals, both domestically and internationally. Furthermore, due to its proximity to the airport, it is exhibiting a good market pattern. However, in RDA, the society’s NOC is in the works. The PIA Enclave is located approximately 5 kilometers from the New Islamabad International Airport. It will provide inhabitants with all of today’s amenities. The site is currently in the early phases of development. The booking process will begin with a 20% deposit. In addition, the outstanding balance is due in three installments over three years.
CBR Cooperative Society Rawalpindi
The CBR Housing Society Rawalpindi is among the new housing projects in Rawalpindi with the possibility to turn your money into huge earnings in the future. This Housing Project is growing at an incredible rate, with excellent infrastructure and all necessary amenities. So, if you’re considering purchasing a property in CBR Cooperative Society Rawalpindi, you’re making a life-altering decision. Because the CBR Housing Society is currently being expanded and residences are being built rapidly, investing in it can offer investors the opportunity to multiply their money over time. Current days, you can acquire a house in the CBR Housing Scheme for a fair price. However, in this community, the prices are about to skyrocket in rapid succession.
University Town
University Town Islamabad is a new housing project that seeks to provide comfort to its inhabitants at a reasonable cost. The principle is straightforward: provide the best real estate investment to sow the roots of a secure and long-term future. University town spans 400 Kanal and offers residential and business plots for sale in various pricing levels to appeal to everybody who shares their ideology. University Town Initiative is an excellent alternative for anyone searching for low-cost, high-return property investment because of its location, neighborhood, and amenities. The nearby University Town is worth a visit.
Motorway City
The new housing project Motorway City is located near the New Islamabad International Terminal. This project has been in development. However, following the opening of the new airport, it has become a significant business prospect. The Qazi Group of enterprises is developing this superb housing development. It is situated in Mouza Ratwal’s Fateh Jang Tehsil. Motorway City is only 10 kilometers from the new airport. It is committed to creating a model housing program and provides magnificent but advanced facilities and luxurious amenities. It features a 5-year monthly payments plan, with a 5% down payment required at booking.
Shalimar Town
Shelter & Shelter (Private) Limited presents Shalimar Town, a new housing project in Rawalpindi. It’s a perfect blend of progress and sophistication. All of the state-of-the-art amenities are fiercely emphasized as the country strives to become a modern society. This would be an excellent spot to live. Shalimar Town is placed near the New Islamabad International Terminal on the Islamabad-Peshawar Road. Shalimar Town is also close to Faisal Town, Faisal Hills, including Axis Mall & Apartments. This huge housing complex is being planned to utilize the British notion of urban planning.
Conclusion
Rawalpindi has made significant growth in recent years to become a nationally recognized metropolis. Rawalpindi Development Authority (RDA) initiatives have improved the city’s overall appearance by developing the city’s infrastructure. As a result, the city has grown dramatically in recent years, and many new housing communities have sprouted up. Above mentioned are among the best new housing projects in Rawalpindi for investment purposes. Estate Land is more than happy to assist you in case of queries.
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Islamabad is the world’s second most gorgeous capital. This city has a variety of residents’ high-standard and exclusive existence. Another advantage of this city is its stunning beauty, which also integrates peaceful environment. In the last few seasons, Islamabad has seen a significant increase in population. As a consequence, many residential and commercial projects in Islamabad have begun to preserve the entire life cycle. Residents from far-flung and underdeveloped locations have started to migrate to the city to seek a better quality of living. Consequently, a slew of new commercial projects in Islamabad have sprung up to accommodate the inflow of people. The majority of these business projects appeal to high-end clients. Therefore, these high-end commercial projects add to Islamabad’s overall appeal. In the meantime, new retail malls are being built to meet the needs of the people of Rawalpindi and Islamabad.
Mall of Arabia
The Mall of Arabia is a one-of-a-kind business initiative. It’s an indoor commercial mall with an Arabic-themed design. The major goal of this wonderful mall is to honor our Arab heritage. The general architecture of the Mall of Arabia to be similar to Arabic culture patterns and styles. The Imarat Group of Companies is the project’s main developer. This company is a newcomer to the commercial projects in Islamabad scene. It has proven its worth by incorporating new and unusual ideas into each of its undertakings. Another amazing effort from the same creator is the Amazon Mall 1 and Amazon 2 series.
The Islamabad Mall is a massive development in the centre of the city. It’s a mixed-use project with both business and residential buildings. Some of the real estate experts consider this project as potential top landmark due to its location in the economic powerhouse, Main Jinnah Avenue-Blue Area. It has immediate access from Nazim-Ud-Din Road and is close to the Blue Area Saudi Pak Towers and Pakistan Stock Exchange. It has shown strong market trends as a result of its strategic placement. The develoeprs have reserved seperate to accommodate the business and residential hub’s visitors’ automobiles. The construction work is progressing at a rapid speed, although no formal conclusion date has been set.
Elysium Tower
Elysium Tower is a business and housing development. It showcases opulent living flats, and a business arena and a high-end architecturally constructed structure. This initiative has the support of Oasis Developers. This company has already established a positive image in the marketplace. It is located in Islamabad’s Blue Area, which is the city’s business district, making it among the best new commercial projects in Islamabad. Except for two ground and two basement levels, this huge project will include 14 stories. The shopping mall is located on the floor level. Elysium Tower is home to a variety of branded stores that offer a wide range of products. In particular, the cafeteria will be a major draw.
Majestic Mall
Majestic Mall is a wholly commercial initiative in Islamabad’s capital. This mall, among others, has large halls and spacious stores. Majestic Mall is one of the top ventures on the ranking of potential investment opportunities. It was created by the Ajaib Group, which is now working on several commercial and residential developments. Majestic Mall, located in the surroundings of B-17 MPCHS, intends to attract many people due to its attractive architecture. This 5-story skyscraper is noted for being a 100% commercial construct that also offers gourmet specialties.
The Islamabad Mall is a legitimate commercial project. It is a western-style commercial centre with over 100 brands in one location. Zahir Khan & Brothers (ZKB) are the owners of this commercial project. The Mall of Islamabad, or MOI, is a shopping mall in Islamabad’s F-11 district. Owing to its sophisticated design and good location, Islamabad Mall is on the rise. The first half of the total due is due as a deposit, with the remaining balance due in four instalments.
The Shopping Mall by S.A. Property
The shopping mall (TSM), a new business endeavour, is located in the tranquil and serene city of Islamabad. It would satisfy both retail and leisure needs in a specific project. TSM is a collaborative effort between S.A. and A.K. properties. TSM is situated in Islamabad’s F-11 Markaz. Several worldwide businesses and trademarks have branches and offices there. It also aspires to be one of the top commercial projects in the world. This is one of the most modern and state-of-the-art and new commercial projects in Islamabad, with capsule lifts, escalators, and a centrally air-conditioned architecture.
Gulberg Emporium Mall & Residency
Gulberg Emporium Mall & Residency is a luxurious development that includes retail stores, residences, and corporate facilities. It is Al-Ghani Group’s latest high-end and aesthetic-driven project. For inhabitants of Gulberg Greens and the surrounding areas, it is a dream business complex. Gulberg Emporium Mall & Residency is located on Gulberg Expressway’s major road. Currently, the business sector will be found on the ground floor. Therefore, it would be a fantastic addition to Capital & Gulberg Greens’ existing business initiatives.
D Mall
D Mall, sometimes known as Defense Mall, is a legitimate business enterprise. It has a luxurious and elegant structure. Al-Ghurair Giga is the brains behind this technically advanced initiative. Hundreds of domestic and international brands are available making it a great new commercial projects in Islamabad. It is located in G.T. Road, DHA Phase-2, directly across from the Giga Mall. Six levels have been set aside exclusively for this commercial projects in Islamabad. Domestic and international brands are featured in big retail establishments. There are also well-known and popular eateries, a children’s play area, and other recreational amusement locations.
Conclusion
All of these new commercial projects in Islamabad are doing well in the difficult real estate market. These commercial project have got the huge appreciation from the citizens and visitors who come to Islamabad for vacations. If you haven’t been to any of these yet, you should! Estate Land believes in delivering the best in all facets of real estate, because you deserve no less.
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Islamabad is among Pakistan’s most attractive cities. It’s a perfect mix of natural beauties and well-designed infrastructure. It is a wonderful spot to live because of the beautiful hills, stunning views, and pleasant atmosphere. This is why several well-known property developers have made significant investments in this city. As a result, it is growing and providing a plethora of construction projects in Islamabad. As a result, shopping malls are being erected, housing communities are being established, residential and business projects are being constructed, and Islamabad has a lot more potential.
Park View City
Vision Developers (Pvt) Ltd’s Park View City is among the many construction projects in Islamabad that are fantastic. This massive housing project is situated in Islamabad’s hilly hills. This is the only project that the CDA has approved. It offers a relaxing and elegant way of living. The distinctive Boulevard building is by far the most important aspect of this Society. The housing estate is well-known for its luxurious amenities and breathtaking vistas. The registration process begins with a 20% down deposit, with the remaining balance due in eight quarterly installments. Park View City’s proximity is convenient. It takes only 15 minutes to get here from Islamabad’s business core, the Blue region.
Bahria Enclave
The architects of Bahria Town are already on their way to Islamabad and Rawalpindi, their upcoming goal. They are well-known for their outstanding performance in Rawalpindi, Lahore, & Karachi. Near Chak Shahzad, Bahria Enclave is located near Jinnah Avenue within Zone IV of Islamabad Capital Territory. The most appealing aspect of its location is that it is easily accessible and practical from Bahria Enclave. Bahria Enclave Phase I is situated near Mouza Molat, whereas Phase II is located near Mouza Phulgraan. Phase 1 & Phase 2 are the two stages of Bahria Enclave. This location aids in Enclave being among the finest ongoing construction projects in Islamabad.
Taj Residencia
The Taj Residencia is among Islamabad’s most opulent living spaces. It’s on the Bhata Road, which runs through Islamabad and Rawalpindi. Taj Residencia’s most notable feature is its situation, making it among the mesmerizing and very successful ongoing construction projects in Islamabad as an option. Because of its position, it is regarded as the best residential project. The Rawalpindi Development Authority is in charge of Taj Residencies (RDA). The I-14 and I-15 connection roads are the project’s principal entry points. They have given their approval for the project’s 10,000 hectares of land.
Blue World City
The blue world city is one of Islamabad’s most prestigious housing societies. The blue world city is now the most reasonable gated community in the neighborhood, and it has received a lot of interest from investors. This project is ideal for those looking for good ongoing construction projects in Islamabad. It is being established with the world-famous Shah Jian Municipal Engineering Company and the Blue Group of Companies (BGC). There are many blocks: General Block, Overseas Block, Blue World Economic Zone, Orbital Apartments, & the low-cost Awami Residential Complex. It attracted the interest of clients and dependable investors in the industry due to its favorable reputation.
Nova City Islamabad
Nova Developers has built a flourishing society around Islamabad. It is close to Fateh Jang, a CPEC route. The Society is constructed in that kind of a way that it offers a strategic location close to twin cities. Nova City intends to introduce the Society shortly for a low cost. This housing society’s low pricing will encourage investment and increase its appeal in the real estate market. The Society is currently in the pre-launch stage. As a result, the master plan is not open to the general audience. The rates will be published after the Society’s initial announcement.
Capital Smart City
The Capital Smart City is placed in Rawalpindi’s junction sector, adjoining the Islamabad international airport. The new Islamabad airport is 9.2 kilometers away. The eastern route of the CPEC passes through New Capital Smart City. Islamabad is about a 6- to 10-minute drive out. Habib Rafiq (Pvt) & future property developments have teamed up to create the Capital smart city. They are among Pakistan’s largest property developers. The development’s master plan includes many districts & sub-districts to help the community, making it one of the best ongoing construction projects in Islamabad.
RUDN Enclave
RUDN is among the new construction projects in Islamabad. They have opted to provide luxurious facilities to their citizens after considering domestic and international knowledge and expertise. RMRSCO Private Limited is the main contractor, and NESPAK is the architectural consultant. It is situated on Rawalpindi’s Ring Road in an excellent location. The RUDN Enclave will be well-developed and maintained, with numerous amenities for its residents. The finest part regarding this Society is that it is conveniently located for twin cities. As a result, real estate developers will consider this location to be the ideal option.
Conclusion
Here are a few of the finest construction projects in Islamabad. They’ve been thoughtfully created to help real estate investors. It has all of the amenities and is widely obtainable from Rawalpindi & Islamabad. Estate land is always available to assist its clients in any real-estate-related query.
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Lahore is Pakistan’s most major historical city, with numerous significant historical structures. It is also home to several cultural sites and some of the country’s most prestigious academic institutions. Furthermore, due to urbanization, Lahore’s population is quickly growing. Similarly, individuals from rural regions are flocking to the city to pursue education, contemporary health care, a higher quality of life, and decent employment. As a result, several housing schemes have sprung up around the city, offering plots to residents at reasonable costs. However, down payment policies differ from civilization to society. Likewise, the size of the property determines the number of installments and the time it takes to complete them. Below mentioned are among the best housing schemes in Lahore on installments.
Lake City Lahore
This housing endeavor is one of the best housing schemes in Lahore on installments, positioned on key Raiwind Road and near to the Lake City Ring Road junction, encircled by societies and beautiful green spaces. Lake City Lahore is a state-of-the-art housing improvement that runs business plots of 5 marlas & 8 marlas on a one-year payment plan. The entire cost of a five-marla business plot is five crores, including an initial deposit of 1 crore plus four quarterly installments of 1 crore, respectively. The eight marla business sites in the market cost eight crores after an upfront fee of 1.6 crores plus four quarterly installments of 1.6 crores, respectively. These properties are available for purchase and are located across from the Lake City Mall, Grand Mosque, Golf Club, & Roundabout. The administration is offering a 10% reduction on the cash payment for the site.
Al Noor Orchard
The project is located approximately 3 minutes near the Faizpur Interchange M2 Motorway on the major Sharaqpur Route. You have easy access to the Lahore Airport Terminal. Ring Road, G.T Road, Orange Line, and Multan Road are all nearby, as is the city center. The Al-Noor Orchard Lahorewill offer housing and business plots as part of an affordable 2020 installment plan. With a monthly installment of PKR 20,000 and a bi-annual installment of PKR 100,000, a 5 Marla housing plot outlays PKR 2,500,000. A 10 Marla housing plot expenses PKR 4,500,000 with a once-a-month payment of PKR 36,000 plus an added bi-annual installment of PKR 180,000. A one-Kanal housing plot costs PKR 8,000,000, with a monthly fee of PKR 58,750 and a bi-annual payment of PKR 350,000. These simple payment options make Al Noor one of the best housing schemes in Lahore on installments.
Lahore Smart City
Smart City Lahore is located near Kala Shah Kaku, mostly on Lahore By-pass Road. Future Development Holdings, or FDH, is the administration partnership responsible for developing Lahore Smart City and Islamabad’s Capital Smart City. The Lahore Smart City is slated to become one of the best new housing schemes in Lahore on installments, and it will be built to worldwide norms for smart city infrastructure development. A smart city is built on the notion of digitally enabled eco-friendly & durable urban growth. Lahore Smart City would incorporate all municipal facilities while guaranteeing an efficient cities lifestyle for the entire public. All of the municipal infrastructures of a smart city are data-driven. Individuals, state buildings, transport networks, and other sources of information are used to collect data. Lahore Smart City would be built on an approximated 20000 Kanal of land. Lahore Smart City is expected to help disperse urban strain from the city core to the outskirts.
Al Jalil Garden
The development is situated on Sharaqpur Road, directly across from the Main Faizpur Interchange on the M-2 Motorway. The Ravi Toll Plaza, M-2 Motorway, is only 1.5 kilometers away from Al Jalil Garden Lahore, an 8-minute commute from Lahore District Council and Thokar Niaz Baig. Buyers can purchase plots on a three-year payment plan. First, you must pay a small fee using the payment method specified. For example, a 3 Marla Housing plot price is PKR 1,650,000, with a monthly installment of PKR 15,000 for 33 months. A half-yearly payment is also required in addition to these payments. A 5 Marla Housing plot worth is PKR 2,500,000, with a payment of PKR 25,000 due over 33 months. A half-yearly payment is also required in addition to these payments. The price of a 10,11 Marla Housing plot is PKR 4,550,000, with a monthly installment of PKR 45,000 for 33 months. A half-yearly payment is also required in addition to these payments.
Etihad Town
Another beautiful new housing scheme in Lahore on installment is Etihad Town Lahore, located 3.5 kilometers from Thokar Niaz Baig and the Islamabad-Lahore Motorway. The development is close to the Orange Line Railway Station as well as the Lahore Ring Road. It is in a beautiful position and is close to all contemporary conveniences. Residential and business plots of various sizes are available in the housing development. Residential properties of 5, 10, 12, 18, and 1 Kanal and business plots of 4 and 8 marlas are offered for cash purchase in phase 1. Because the inventories are all out, you must make a 30% upfront payment and one installment with a small profit to obtain a residential or business plot.
Conclusion
When it concerns generating investments or residing, housing communities are a key draw. However, the advantages that these communities can bring are considerably greater. Among the handy features of these communities is the ability to pay for plots in installments. So when a middle-class family relocates to a new colony, they may take advantage of this incredible perk. We have listed down a list of the best housing schemes in Lahore on installments for your assistance. Through its authorized agents, Estate landprovides services in all of the above-mentioned residential properties.
Feel free to read our blogs for further information about trading through us.
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The ADB expects a 4% growth in Pakistan in FY22. Pakistan’s Gross Domestic Product (GDP) growth is expected to reach 4% in the fiscal year 2021-22 (FY22), as commercial activity gradually restarted in the second year of the Covid-19 epidemic.
According to the Asian Development Outlook 2021, private investment recovered as consumer confidence and business activity increased in response to the ongoing vaccine rollout and several economic stimulus measures outlined in the 2021-22 budget.
According to the research, the investment will likely rise as global sentiment improves and the International Monetary Fund’s stabilization program advances.
On the supply side, agriculture’s prospects are favorable, particularly in light of the government’s ambitious Agriculture Transformation Plan. The ADB expects a 4% growth in Pakistan in FY22.
“The plan aims to ensure food security for a growing population by increasing cultivable land, revamping extension services, increasing water efficiency, developing postharvest storage and food processing facilities, expanding bank credit, and introducing the ‘Kissan Card’ as a digital wallet for the direct and swift transfer of subsidies for seed, pesticides, and fertilizer.”
Similarly, the research predicted that the continued deployment of the Covid-19 immunization program and an accommodative monetary policy would stabilize global merchandise trade, improve market sentiment, and increase corporate and consumer confidence. The ADB expects a 4% growth in Pakistan in FY22.
Additionally, it stated that increased growth in agriculture and industry and anticipated improvement in domestic demand are predicted to boost growth in the services sector, contributing to overall growth improvement in FY22.
“While inflationary pressures will almost certainly arise as a result of the continued economic recovery and rising global oil prices, they should be mitigated by fiscal reform and the government’s pledge to refrain from borrowing directly from the central bank.”
The ADB projects Pakistan’s economic growth. — Photograph courtesy of the ADB website.
According to the ADB research, the danger of inflation exceeding anticipated levels stems from an unprecedented increase in oil prices or potential currency depreciation resulting from any early termination of the ongoing IMF program.
The budget deficit is about to decrease to 6.9 percent of GDP in FY22, which is still larger than the objective established earlier under an IMF-supported medium-term fiscal contraction program.
“Revenue growth is expected to accelerate as domestic economic activity accelerates and imports increase,” the research stated.
Expenditure is also expected to increase in FY22. The government has budgeted significant increases in subsidies and social and development spending to protect the weak and bolster economic growth and recovery. The ADB expects a 4% growth in Pakistan in FY22.
Pakistan’s state debt is expected to be manageable in the medium future. “As a result of primary and fiscal deficits, excessive borrowing costs, and currency depreciation,” the research stated, “public external debt will reach $95.2 billion in the fiscal year 2021.”
The government has been pursuing a medium-term debt strategy for fiscal years 2020-2023.
“By reclassifying public debt into longer-term instruments, the maturity structure of public debt has been enhanced. With high economic growth forecasts for FY22 and beyond, public debt is expected to continue declining in the medium future, “It was stated.
Domestic demand growth and rising international oil prices are expected to increase the current account deficit to the equivalent of 1.5 percent of GDP in the fiscal year 2022.
Similarly, export growth is predicted to accelerate, aided by a forecast recovery in the economies of Pakistan’s key trading partners.
Exports will gain further from ongoing efforts to cut the cost of doing business, particularly from the government’s recently implemented export facilitation scheme, which allows duty- and tax-free purchasing of inputs such as intermediate products, equipment, and machinery.
Imports are predicted to increase in 2022 due to domestic economic recovery, increased international oil prices, and the fiscal year 2022-23 budget’s rationalization of customs and regulatory taxes.
Additionally, the study stated that remittances were projected to stay high, aided by the ‘Roshan Digital Accounts’ initiative, and would continue to help close the current account deficit. The ADB expects a 4% growth in Pakistan in FY22.
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