According to the Finance Act 2022 and the Federal Board of Revenue (FBR), Reko Diq Mining Company does not have to pay capital value tax (CVT). This was reported by news sources on December 13.
In this way, FBR sent out SRO.2200(I)/2022 on Monday to let people know about changes to the Finance Act of 2022. According to the notification, Section 8 of the Finance Act of 2022 says that the federal government can exempt any asset or group of assets from tax by putting a notice in the official gazette. This is subject to any conditions that may be set.
With this change to the rules, the federal government has exempted all assets of the Reko Diq Mining Company (Private) Limited (formerly Tethyan Copper Company Pakistan Private Limited (TCC)) from the capital value tax (CVT) due under sub-section (1) of Section 8 of the Finance Act 2022.
The Supreme Court bench recently said that the agreement between the government and the TCC was legal. This caused the government to send out a notice giving the TCC special exemptions from mineral proceeds.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/FBR-grants-Reko-Diq-Mining-Company-CVT-relief.jpg6091392estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-13 22:30:012022-12-14 10:09:55FBR grants Reko Diq Mining Company CVT relief
A news source said on December 13 that Punjab Chief Minister (CM) Chaudhry Pervaiz Elahi has approved the building of an underpass from Babu Sabu interchange to Ring Road, Gulshan-e-Ravi T-Junction.
Monday, CM Elahi led a meeting of the Lahore Development Authority’s (LDA) governing body (December 12). The minister agreed to give the Ravi Development Authority (RUDA) all the records for housing schemes that are in areas where the RUDA is in charge. It was also said that the records of all approved, pending, and illegal housing plans will be sent to the authority.
During the meeting, the CM gave the go-ahead for projects on 152 kanals of land on Ferozepur Road, near the IT Tower. Details showed that a 24-kanal IT Tower, four commercial buildings, and a 59-kanal hospital will be built. It was said that parking will be available in the new projects.
Also, the meeting to set up the committee and subcommittee to handle LDA business. At the meeting, the changes to the Land Use Regulation 2020 and the building and zoning rules were approved. CM Elahi said that safety, security, and other rules and regulations must be kept in mind. He went on to say that a “No Objection Certificate” (NOC) must be given by the neighbors before apartments can be built, and that 50% of the roof must be left green.
The news source said that the plans to build and expand the Dubanpura exit road and to build and extend the LDA City link road from Ferozepur Road to Kahna Kacha had been approved in principle. The minister also gave permission to build a road that will connect LDA City, Defense Road, and the Hudiara Drain Bridge.
On December 12, news sources said that the Economic Coordination Committee (ECC) in Islamabad had approved two important agenda items related to the Reko Diq copper and gold project. This made it possible to start the project early.
The federal government and the government of Baluchistan settled a dispute with Tethyan Copper Company, which is a partnership between Barrick Gold Corporation and Antofagasta, outside of court. The dispute was about the Reko Diq project in Baluchistan.
According to the terms of the settlement, the federal government has to pay off its debts to Antofagasta. The ECC has now given the Finance Division permission to tell three state-owned companies to put USD 22.71 million in an escrow account by December 15. Also, the ECC has given the Finance Division permission to set up the interest payments for the USD 8.51 million that the Baluchistan government has to pay.
Also, Baluchistan Chief Minister Abdul Qudoos Bizenjo said that the Baluchistan government will get more than 38% of the money made from the project, which is estimated to be around PKR 200 billion (USD 1.83 billion).
He said that the money would be used to improve the economy of the province and the lives of its people. The minister said that the project should create more than 8,000 jobs and make it easier for foreign and domestic businesses to invest in the province.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/ECC-approves-plans-for-an-early-launch-of-the-Reko-Diq-project-1.jpg5601280estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-12 23:05:372022-12-13 11:35:17ECC approves plans for an early launch of the Reko Diq project
Islamabad’s Capital Development Authority (CDA) has approved changes to the property manual that remove the need for a No Objection Certificate (NOC) from the Building Control Section (BCS) for family transfers of residential properties, news sources said on December 12.
The CDA board also agreed to a summary of changes to the property manual that Member Estate sent them. Along with exempting family transfers, the board also decided to make NOCs last for a year instead of three months. But the next person who wants to buy the property will still have to apply for a new NOC. Still, an affidavit must be given to the right people saying that any building built against building codes will be torn down within three months.
By making it easier for family transfers to happen, these changes to the property manual are meant to make the process of moving easier. The CDA wants to make it easier for people to get public services and for property to change hands.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/CDA-relaxes-property-transfer-regulations-in-Islamabad.jpg5601280estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-12 23:01:352022-12-13 11:30:41CDA relaxes property transfer regulations in Islamabad
Lahore: A leading newspaper reported that the Punjab Environmental Protection Agency (EPA) has asked the public, stakeholders, and people who will be affected by the Lahore Master Plan 2050 to submit their concerns about the final Environmental Impact Assessment (EIA).
The EPA has also asked people to attend the open discussion and give their thoughts on the Lahore Master Plan 2050. This is in addition to sending in reservations and suggestions. The discussion will give people in the public a chance to share their thoughts on the plan and their experiences with the EPA and other interested parties. This open discussion will be a big part of how the EPA shapes the Lahore Master Plan 2050 to help the people of Punjab as much as possible.
The government of Punjab has already approved the Lahore Master Plan 2050 and given an order to make it happen. The goal of the plan is to make Lahore more resilient and sustainable and to deal with the problems caused by the city’s growing population.
Some of the most important parts of the plan are to make more green spaces, encourage vertical development, protect historical and cultural heritage buildings, stop unapproved housing developments, and set up infrastructure for public welfare. Overall, the Lahore Master Plan 2050 is meant to improve the quality of life for the people of Lahore and make sure that the city can continue to grow and thrive.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/EPA-Punjab-releases-Lahore-Master-Plan-2050-public-notice.jpg5601280estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-12 22:48:522022-12-13 11:28:20EPA Punjab releases Lahore Master Plan 2050 public notice
A news source said on December 8 that the Capital Development Authority (CDA) and SUPARCO signed a Memorandum of Understanding (MoU) to set up the Geo-Spatial Technology Wing at CDA.
At the SUPARCO Headquarters, the agreement was signed by the CDA Chairman, Captain (Retired) Muhammad Usman Younis, and the SUPARCO Chairman. The agreement says that SUPARCO will help CDA set up the Geo-Spatial Technology wing. According to the details, the newly hired staff for the wing will be trained by SUPARCO. It was said that SUPARCO will send the authority images every three months, including high-resolution images.
The wing will also help with special training and monitoring, such as data management and geospatial services. The Geo-Spatial Technology Cell will be done in two years, according to the news source. SUPARCO will help with things like mapping, monitoring, and planning, among other things.
Setting up this wing will help improve the infrastructure by doing things like mapping based on information in the CDA and feasibility studies. Also, it will help CDA with satellite data for operational use, evaluating projects based on internal information, and online data management like web GIS portal, capacity building, and Geo-Spatial lab.
News sources said on December 9 that the Capital Development Authority (CDA) sent a summary to the federal government asking them to form a new commission to revise the master plan for Islamabad.
The Capital Development Authority (CDA) in Islamabad has put together a seven-person committee to work on improving the rules for building control. The director general of design will be in charge of the committee, which wants to change the rules to make them clearer. The committee will also work to speed up the building approval process, which currently takes three years for buildings on plots of all sizes. According to the new plans, the CDA will have to make a decision on building plans within 10 days of receiving them. The official said that the changes would be posted on the CDA website so that Pakistanis living abroad could learn about the rules before they bought plots.
The current master plan for Islamabad was made by the Greek firm Doxiadis Associates. They suggested that it be updated every 20 years to keep up with changes in the city. But each new government kept making small changes to the master plan instead of changing it completely.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/A-new-commission-is-proposed-to-revise-the-master-plan-for-Islamabad.jpg6301440estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-09 11:39:142022-12-09 11:57:44A new commission is proposed to revise the master plan for Islamabad
Blue World City Sports Arena is one of the favorite aspects of investing in this magnificent housing project. Moreover, the housing community is developing several sports facilities in the residential project where residents can access sports like the cricket stadium, hockey ground, polo ground, and several other sports options. The idea of the developers is to encourage investors to make a fitness regimen in the community. Moreover, there will be a provision that will be affordable and accessible to everyone, where all investors can get healthy lifestyle practices. Lastly, there will be several other features and amenities in the blog regarding the sports arena.
Sports Area Facilities
Blue World City will have several amenities for the residents, where all residents will have the best living standards available. Moreover, the Sports Valley block will create a place where all residents strive for healthy and fitness-inclined living standards. Here are several of the highlights offered in the community. Of course, the provisions are countless, but these are some prominent ones.
Pakistan’s Biggest Cricket Stadium
The cricket stadium provision will be one of its kind sport available in Pakistan. Moreover, the creators of this home development are creating a unique feature of the residential venture. The stadium will have substantial commercial units in the surroundings where many spectators can benefit from and attain a blissful living experience. Therefore, investment in this housing venture will be worthwhile to enjoy the unique lifestyle here.
Shadowless LED lights will be placed at the stadium to enhance the sports activity experience for visitors and players. Moreover, there will be several dressing rooms available where the players can go and rest. The developers are also developing the cricket stadium at the ideal site where it will be easily accessible for all investors.
Open Air Gymnasium
The Blue World City Sports Valley Block will offer the gymnasium to all investors. Moreover, the best and international standards tools and types of equipment will be available at the Sports Arena. Furthermore, all the equipment will be accessible with the assistance of the fitness coach. In addition, there will be a room available where investors can go and exercise according to their pace. Lastly, the open-air gymnasium is an eco-friendly and healthier option available for all the investors in the community. Lastly, the developers will maintain quality types of equipment and gadgets for all investors in the community.
Hockey Field
The hockey fields provision will be available at the Sports Valley, where the investors can get the blissful experience of the hockey game. Moreover, the developers will create the ground with high-quality architecture where the spectators will enjoy and attain their higher living goals. Furthermore, the field will be lush green and conform to international sports standards. Lastly, an area will be available at the side where visitors can enjoy this sports activity at the Sports Arena.
Sports Arena Investment Benefits
Investment in Blue World City will benefit investors in all aspects of life. Moreover, a sports valley block will provide investors with several sports and fun activities. The cricket stadium, hockey field, and open-air gymnasium will be accessible to everyone at the sports arena. Most importantly, the creators will make it to promote fitness goals and best health practices among the investors and the residents.
The secure and serene environment at the Blue World City Sports Arena will make it the best and the healthier place to have fun with loved ones. Moreover, the accessibility will be highly affordable for all investors, and every resident can benefit from these sports facilities. Most importantly, the location accessibility of the sports arena will also make it the best feature for investors and residents.
Conclusion
The Sports Arena is Blue World City’s prominent feature and the popular aspect of investing in the housing project. Moreover, there will be provision for Pakistan’s biggest cricket stadium, hockey fields, and open-air gymnasiums at the block. The idea is to promote health and fitness habits among the residents that will help them strive for blissful and sustainable living standards. Furthermore, the provisions will be highly accessible and reasonable so that all residents can quickly go and enjoy fun activities with their loved ones. So, the investment here will be valuable and worthwhile. Lastly, investors must contact Estate Land Marketing to get a dream residential or commercial investment in the community.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/Blue-World-City-Sports-Arena-Guide-2022.jpg5251200estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-09 09:48:172023-09-12 18:06:38Blue World City Sports Arena Guide 2023
Blue World Economic Zone is the future of commercial activities in the country. Especially for the investors and residents from the twin cities. The area will first become the business hub for everyone due to its prime location and reasonable investment plans. Reasonability is the most significant factor that allows investors from around the country to make an ideal and worthwhile investment here. In addition, investors of Blue World City can gain several benefits in the community. Lastly, the developers will create massive opportunities for all investors to cater to different ventures here and earn profits.
Blue World Economic Zone Features
Several commercial opportunities will be available in the community where the shareholders start any business ventures they wish. Moreover, the best and most favorable conditions for creating profitable businesses will be general. Lastly, some of the provisions available in the community are these:
Investing in Blue World City will create massive benefits and profits for everyone. Moreover, other benefits will be available to make an outstanding startup in the community. Some of the prospects are here:
Ideal Location
The location of the Blue World Economic Zone is highly accessible from the M2 Motorway, CPEC Route, and the Rawalpindi Ring Road, making it highly accessible for the residents of the twin cities residents. Moreover, commercial investors around the country can start any business venture here. The accessibility will ensure better profits and high rates of returns, making it a viable option for investors.
Convenient Investment
Like the Sports Valley, the Blue World Economic Zone allows the best and easiest investment opportunities in the community. Moreover, there will be accessible installment provisions for the investors to start any startup according to their budget. Most importantly, the pocket-friendly rates will encourage the shareholders to take the first step and make a sustainable investment in the community. Furthermore, the bank’s provision will help the investors in leasing a good amount of money for the startups.
Favorable Commercial Conditions
The high-quality infrastructure and the best access point available at the Blue World Economic Zone ensure that all the activities going on in the community will help the investors in starting and growing the businesses. Most importantly, other aspects will be available, like the secure environment. The surroundings will allow investors to make long-term and profitable deals without hesitation.
High Returns on Investment
The commercial investments will allow investors to make sustainable and worthwhile profits in the community. Moreover, the best returns would enable investors to make a valuable and sustainable investment in the community. The initial investment is not expensive, as the developers offer efficient and reasonable downpayment rates. And in return, the investors can get optimal returns and massive benefits from starting any business venture here.
Economic Stability
The overall ROIs will help the investors in making the betterment of the economy. However, as we know, the current economic situation is inefficient, and an effective strategy is necessary to get beneficial and desirable results.
Most importantly, the real estate sector has always been the backbone of the economy in Pakistan. And that is why several housing projects are now developing in the community to cater to the investors’ needs. These projects are not only helping the investors but also the developers and, most importantly, boosting the economy of the country. Lastly, we can say that the Blue World Economic Zone will help increase the country’s economy.
Conclusion
Blue World Economic Zone is one of the driving forces that will soon become the country’s economic hub. Moreover, there will be favorable conditions that will let the investors in making profitable investment opportunities. The high-quality infrastructure will allow future investors to make prosperous ventures. As we know, affordability is pivotal in sustainable and long-term investment.
Therefore, the developers are making highly affordable housing projects to help investors create sustainable living standards. Lastly, Estate Land Marketing will be available to guide investors in creating sustainable and worthwhile assets.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/Blue-World-Economic-Zone-Investment-Prospects.jpg5601280estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-09 08:16:052023-09-12 17:10:03Blue World Economic Zone Investment Prospects
Islamabad: The Sustainable Housing Ecosystems (SHE), a partnership between Altair, AMC, and Trellis, said on Wednesday, December 7, that it will invest USD 50 million in Pakistan over the next three years.
The money will be put into the real estate business so that middle-income families in the country can get homes at low prices. Jawad Aslam, the CEO of AMC, said at an event that the SHE venture has already put USD 50 million into the real estate and housing business and that this new investment will help the construction industry even more. He said that the goal of the investment is to bring together key players in the housing market so they can work together to make projects all over Pakistan that are good for the environment.
It was also emphasised that the country’s housing finance needs to go from 0.2% of GDP to 10% or more of GDP in order to fix the lack of housing. People at the event also said that, at the current rate, the housing problem can’t be solved and that more work and money will be needed. The people who took part also asked the government to help the housing industry deal with the problems.
Share this:
https://estateland.com.pk/wp-content/uploads/2022/12/Sustainable-Housing-Ecosystems-invests-50-million-in-housing.jpg5601280estatelandhttps://estateland.com.pk/wp-content/uploads/2021/06/logo-for-website-1.pngestateland2022-12-08 21:55:432022-12-09 07:17:59Sustainable Housing Ecosystems invests $50 million in housing
