CPEC Projects: SEZA Chairman Provides Economic Zones Update

CPEC Projects: SEZA Chairman Provides Economic Zones Update

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News sources say that on December 26, Chairman of the Special Economic Zones Authority (SEZA) S.M. Naveed gave an update on the development of economic zones during a meeting at the office. According to the head of the authority, five of the nine Special Economic Zones (SEZs) chosen for the China-Pakistan Economic Corridor (CPEC) are being built.

Read more with EL news: NHA will soon initiate the Hub-Dureji-Dadu Motorway project

The SEZA chairman said that the Allama Iqbal Industrial City in Faisalabad, Punjab, the Rashakai SEZ in Khyber Pakhtunkhwa, the Dhabeji SEZ in Sindh, and the Boston SEZ in Balochistan are all under-developed economic zones. It was also pointed out that the first phase of the Gwadar Free Zone, which covers 60 acres, is done and fully operational, while the second phase, which covers 2,200 acres, is still being built.

During the meeting, it was also made clear that most of the upcoming CPEC projects will be in the textile, IT, agriculture, science, and mining sectors. This will help Pakistan become less dependent on imports and increase its exports.

The head of SEZA also said that all of the notified economic zones in the country take up about 10,029.64 acres of industrial land, of which 5,220.62 acres have been given to investors who plan to invest PKR 633.9 billion in the industrial sector. The foreign direct investment (FDI) part of this amount is 43.6%. (USD 1.73 billion).

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DHA Quetta's office was inaugurated at Jacaranda Family Club-ISL

DHA Quetta’s office was inaugurated at Jacaranda Family Club-ISL

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Quetta: According to a post on the authority’s official Facebook page, the regional office of the Defence Housing Authority (DHA) in Islamabad has moved to the Jacaranda Family Club in DHA II and was opened with a ceremony. The newly opened or moved office is now serving its customers at full capacity.

Read more with EL news: The FDA will provide property owners smart cards

According to reports, DHA Quetta Administrator Brig. Akhtar Subhan opened the new place on December 26. At the launch party, which was held at Arena Jacaranda Family Club, there were a number of well-known people, real estate agents, brand representatives, and investors.

It was pointed out that DHA Quetta is opening new regional offices in cities like Faisalabad, Peshawar, Multan, Mirpur, and Azad Jammu & Kashmir. Also, the authority is moving the regional offices it already has to business districts to make it easier for customers to get to them. The Housing Administration has said many times that its mission is to serve all of its customers with the same level of professionalism.

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The Punjab PDWP approves a PKR 24 billion project

The Punjab PDWP approves a PKR 24 billion project

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News sources reported on December 29 that the Punjab Provincial Development Working Party (PDWP) has approved five development plans with a total cost of PKR 24.9 billion.

Read more with EL news: The FDA will provide property owners smart cards

At the 37th meeting of the PDWP board, which was held here in Lahore, the projects were approved. Planning and Development Board Chairman Dr. Wasif Khurshid, who was in charge of the meeting, said that these plans would be a big part of making jobs.

The meeting gave the green light to the following plans:

Public-private partnerships in Punjab projects were given PKR 18,981 billion to make them better.
Mithawan Hill Torrent Flood Water in the D.G. Khan District was given PKR 3.317 billion, and Chachar Hill Torrent Flood Water in the Rajanpur District was given PKR 1.101 billion.
ABAD has given PKR 1 billion to the development of integrated farms in the Punjab Barani Tract.
559.668 million PKR were set aside to build Dargai Gill Forest Park.

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The FDA will provide property owners smart cards

The FDA will provide property owners smart cards

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Faisalabad: The Faisalabad Development Authority (FDA) has moved quickly to digitize the records of commercial and residential areas of the city. After that, the property owners will be given smart cards, according to news from December 18.

Read more with EL news: NHA will soon initiate the Hub-Dureji-Dadu Motorway project

During a meeting, FDA Director General (DG) Abid Hussain Bhatti made this announcement. The head of the FDA looked over the digitization process and told the people in charge to speed up the digitization of records so that it could be done faster. When putting the data on computers, the departments involved are asked to make sure that everything is clear to everyone.

It was decided that the FDA is in charge of over 18 residential colonies and 17 commercial markets. After the computerization of records is done, smart cards will be given to property owners in FDA-controlled areas.

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NHA will soon initiate the Hub-Dureji-Dadu Motorway project

NHA will soon initiate the Hub-Dureji-Dadu Motorway project

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Islamabad: According to news reports, the National Highway Authority (NHA) has announced plans to start construction on the 270-kilometer Hub-Dureji-Dadu Motorway (M-7) project soon.

Read more with EL news: RDA will build a public parking lot on a 5-kanal property

The Hub-Dureji-Dadu Motorway project, which would be a part of the southbound route from Islamabad to Karachi, will link more cities in the nation to the highway system. For a feasibility study and a thorough design for the M-7 Motorway, the NHA has requested consultation services. The road will include six service facilities and is projected to lessen traffic on M-6, according to Project Concept-1 (PC-1).

The groundwork for the project was recently inaugurated by Prime Minister (PM) Shehbaz Sharif, and it will be connected to the recently opened 306-kilometer Sukkur-Hyderabad Motorway (M-6). The Peshawar-Karachi Motorway, which would connect Pakistan’s major cities, has one more segment: Sukkur-Hyderabad.

Several south and northbound motorway networks are being built in Pakistan as part of the China-Pakistan Economic Corridor (CPEC), which would allow trade between China and Gwadar in Balochistan. Pakistan is anticipated to create a complex rail and road network as part of the project.

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LDA gets PKR 1.6 bn under area development program

LDA gets PKR 1.6 bn under area development program

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Lahore’s governing body, the Lahore Development Authority (LDA), has given PKR 1.6 billion to improve urban infrastructure in different parts of the city. This was reported by news sources on December 28.

Read more with EL news: Faisalabad Master Plan 2040 approved by FDA

Reports say that these funds will be used to build basic infrastructure on the outskirts of Lahore, such as roads, electricity, water, sewers, and landscaping. The goal of this project is to turn the city’s outskirts into places where people can live, making the city a better place to live and visit. Sources say that the budget has been raised to deal with the growing number of people in the city’s central areas, which has caused congestion and frequent traffic jams.

Before, the government had set aside PKR 1.2 billion for the project. However, the provincial government has now asked the LDA to use the whole budget during the current fiscal year. The government has also asked LDA to use the extra money to finish the ongoing development projects.

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Kingdom Valley Islamabad Location Prospects for Investors

Kingdom Valley Islamabad Location Prospects for Investors

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Introduction

Kingdom valley Islamabad Location is what all investors want to make a sustainable and profitable investment in the community. Moreover, there will be a beneficial investment opportunity for everyone. So that will help create a rewarding and long-term asset prospect for everyone. Furthermore, the best aspect is that the investors will be able to achieve a lifestyle that will make a long-term investment opportunity, as we know that the site is on the M2 Motorway at Kingdom Valley Chakri Road. So, several benefits will be available to help create a sustainable lifestyle. The other detailed prospects of location will be available in the blog.

Kingdom Valley Noc

Kingdom Valley Islamabad NOC legitimacy has made it one of the investment-friendly housing communities developing in the community. Moreover, the housing project comes under the Naya Pakistan Housing Program. Therefore, the best aspect will be that the housing project will be reasonable and within most investors’ range. Furthermore, that makes it the most trustworthy housing community developing in the vicinity of the twin cities. The registration number of the housing community is DRG/PHATA/2176-2021. Lastly, the investors believe that legitimacy is the best aspect of making an ideal investment at the gathering.

Kingdom Valley Location

The Kingdom Valley Location Map is another factor that all investors are getting fond of before making an ideal investment in the community. Moreover, several access points to the community will be close to significant landmarks. The site of the housing project is on the M2 Motorway, main Chakri Road. Investors usually look for accessibility before making any long-term investment opportunity. Kingdom Valley Islamabad Map indicates that investors can make an ideal living here for everyone.

Access Points

Kingdom Valley Islamabad Location has several access points that ensure that investment here will be sustainable and approachable for everyone, especially from the twin cities. The best aspect for everyone is that a fair housing project allows investors to create a profitable and long-term investment opportunity. Future investors can easily access the housing project through Chakri Road, Rawat-Chakbeli, and Adiala Road. Accessibility makes investing and living experiences in the community more feasible for all investors.

Prospects for Investors

Kingdom valley Islamabad Location will benefit the investors in creating the most suitable living standards. Moreover, there will be two main areas where investors can make the living experience accessible. One is the M2 Motorway, and the other is Rawalpindi Ring Road. Furthermore, there will be different other benefits associated with these accessibilities. So, let’s look at them.

Better Traffic Flow

The impact of Ring Road is fantastic for all investors to create a sustainable living standard. Moreover, the ring road helps the nearby area’s residents and investors by increasing accessibility and better traffic management. The nearby housing societies, like the Kingdom Valley Islamabad and the Blue World City, will be helping in making accessible living standards. The Kingdom Valley Location Map is highly accessible as it is close to the Rawalpindi Ring Road.

Enhanced Living Conditions

The housing project is close to the Kingdom Valley Chakri Road, increasing the residents’ way of living. Moreover, the M2 motorway will connect the housing project with significant landmarks. However, the most vital part is that the shareholders and future residents can create sustainable living standards for everyone. The kingdom valley Islamabad owner ensures prospective residents have the optimal lifestyle in the community.  Less traffic will also add serenity to all investors’ lives.

Increase Investment Rates

Better connectivity and approachability will also increase investment rates in the community. Moreover, Kingdom Valley Islamabad Location is highly accessible from different areas, mainly from the twin cities. Furthermore, there will be investment from overseas Pakistani. The best aspect is that this is a legal housing project, which is vital to gain investors’ trust and confidence. A buy at a serene and quiet place is necessary to make healthy and sustainable living standards.

Conclusion

Kingdom Valley Islamabad Location is highly accessible from vital sites and landmarks. Moreover, there will be different housing projects will be at the vicinity of the kingdom Valley. Not only this, but it will also be near Islamabad International Airport. Most importantly, the housing project has a Noc approval that increases the interest in investing here. As a result, the investors can have higher accessibility, connectivity, and accessibility. Moreover, several properties are available in the community to fulfil the living conditions of the investors. Lastly, Estate Land Marketing is the right place to make the optimal and beneficial investment opportunity at Kingdom Valley.

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NTDC plans a PKR 370 billion expansion plan

NTDC plans a PKR 370 billion expansion plan

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Islamabad: On December 27, news sources said that the National Transmission and Despatch Company (NTDC) had asked the National Electric Power Regulatory Authority (NEPRA) to approve a PKR 370 billion investment plan to expand its system and cut losses over the next three years (2023–25).

Read more with EL news: CDA will auction residential and commercial lands in January 2023

The transmission system operator said that 45% (PKR 167 billion) of the investment would be used to move power from new power plants, while 43% (PKR 158 billion) would be used to upgrade, repair, and expand the national grid. The remaining 12% (PKR 24 billion) would be used to develop industrial zones like Dhabeji, Haripur, Swabi, Lahore, and Faisalabad as part of the China-Pakistan-Economic-Corridor.

The company also said that it would spend PKR 114 billion in the fiscal year (FY) 2022-23, PKR 145 billion in FY-24, and PKR 110 billion in FY-25. NTDC also said that it would invest PKR 165 billion in Punjab, PKR 135 billion in Khyber Pakhtunkhwa, PKR 23.5 billion in Sindh, PKR 12 billion in Balochistan, and PKR 34 billion in other areas and sectors.

The NTDC said that the PKR 266 billion it spent on investments during the last investment period (2018–19 to 2022–22) helped cut its transmission and transformational losses from 2.9% to 2.6%. Now, the company is doing better than similar businesses in India and Bangladesh, and it is very close to 2.5% in Sweden and Ukraine.

The NEPRA has agreed to look into the petition and has set a public hearing for January 2, 2023, to see if the proposed investment is worth it and if it can bring techno-commercial benefits, such as removing constraints, making more energy available for wheeling, ensuring supply reliability and continuity, and reducing transmission losses.

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FBR will release the names of high-value tax evaders

FBR will release the names of high-value tax evaders

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News sources said on December 28 that the Federal Board of Revenue (FBR) is thinking about putting out the names of high-value tax defaulters who did not pay Capital Value Tax (CVT) on foreign assets and tax on the deemed income.

Read more with EL news: CDA will auction residential and commercial lands in January 2023

Under the new rule, the names of people who didn’t send in their taxes by the December 31 deadline will be made public. But care is being taken to make sure that those who don’t pay are given a chance to explain their legal situation before their names are made public.

The FBR announced that tax measures totaling about PKR 250 billion are being challenged. These include the super tax, the CVT on foreign assets, and the tax on the elite class’s deemed income. About 6,000 people with a lot of money have to pay the CVT on their foreign assets, and almost 4,000 people with a lot of money have to pay the super tax.

In the meantime, the Sindh High Court (SHC) has ruled that the super tax on high-earning individuals will not be in effect for Tax Year 2022, but only for Tax Years 2023 and later. The Balochistan High Court has sent notices to the FBR about whether or not Section 7E of the Income Tax Ordinance, 2001 (tax on deemed income) is legal.

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CDA will auction residential and commercial lands in January 2023

CDA will auction residential and commercial lands in January 2023

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News sources say that on Tuesday, December 28, the Capital Development Authority (CDA) approved a plan to auction off 58 commercial and residential plots during a 3-day event on January 24, 25, and 26 at the Jinnah Convention Centre.

Read more with EL news: Campaign against encroachment on government-owned housing units

At a meeting of the CDA board, which was led by Captain (retired) Muhammad Usman Younis, the auction plan for 12 residential plots in Park Enclave I and II was approved. It was said that the authority wants to get money from the auction to make sure that ongoing mega-development projects don’t stop (Bhara Kahu bypass, Margalla Road, Expansion of Expressway and IJP road etc). The CDA hopes to get about PKR 20 billion in money from the three-day auction.

As an incentive for investors, the CDA has made the time limit for building structures on larger plots longer. Before, building could only happen on plots of any size for a maximum of three years. This time, though, the CDA plans to give a three-year window for building on plots up to 1,000 square yards, a four-year window for plots between 1,001 and 3,000 square feet, and a five-year window for plots larger than 3,001 square yards.

The CDA board also approved a 5% discount for Pakistanis living outside of Pakistan. These people will have to pay through “foreign remittance/official banking channels with proof within 30 days of the provisional bid acceptance letter.” A director of the CDA said that this will make it easier for much-needed foreign investment to come in and boost the country’s foreign exchange reserves.

The auction will include both residential plots in Park Enclave and commercial plots in different parts of Islamabad, such as Blue Area and Sector I-8. Some of the plots that will be sold will be used to build schools and hospitals. Five commercial plots in the northern part of Sector E-11 will also be sold at auction.

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