Pakistan News

    Vankvani Builders And Developers In Lahore

  • Fixed tax for builders and developers to generate Rs25bn

    KARACHI: The Federal Board of Revenue (FBR) and the Association of Builders and Developers of Pakistan (ABAD) on Monday agreed on a new simplified and fixed taxation system for builders and land developers that would help generate an additional revenue of Rs25 billion...

    Under the agreement, there will be three categories of builders and developers for taxation: Category A for Karachi, Lahore and Islamabad; Category B for Hyderabad,...

  • A new breed of builders and developers

    Gone are the days when it took years to complete a project because the modes of construction were outdated and inefficient...

    The shuttering was a hotchpotch of uneven and overused wooden planks nailed together...

  • ‘CDA paid developers 400pc of land value for H-17, I-17’

    1 million to Bahria Town and the son of a local politician when purchasing land in sectors H-16 and I-17, according to an audit report submitted to the Public Accounts Committee (PAC)...

    According to a report from the auditor general’s office, CDA purchased the land from Bahria Town and Usman Nawaz Khokhar between July 2008 and January 2009 at Rs830,000 per kanal, when the land was actually valued between Rs100,000 to 200,000 per...

  • Dubai property developers upbeat despite falling prices

    DUBAI: Dubai property developers are still turning out some larger-than-life projects even though prices are heading south again after clawing back a good chunk of their losses in the 2008 crash...

    The Gulf emirate’s annual Cityscape property fair opened Tuesday with developers foreseeing price declines of about 15 per cent this year, yet confident there would be no return to the days when huge projects were abandoned half finished......

  • SC stopped action against two real estate developers, NA body told

    ISLAMABAD: The Natio­nal Assembly’s Standing Committee on Overseas Pakis­tanis was informed by the Employees’ Old-Age Benefits Institution (EOBI) on Wed­nesday that the FIA had been restrained by the Supreme Court from taking action against two influential real estate developers...

    A meeting of the committee, presided over by its chairman Mir Aamer Ali Khan Magsi, was told that the apex court had in 2013 stopped the FIA from taking...

  • Irregular payment of Rs4bn made to new airport runway builders

    According to the audit report of the CAA for the year 2013-14 presented to the Public Accounts Committee (PAC), the joint venture of M/s Lagan and M/s Technical Associates Pakistan were paid Rs4...

    “The engineer was required to act as a mediator rather than an adjudicator … (but) the engineer admitted all claims, including those contradictory to contract clauses, and gave inaccurate decisions...

  • Builders warned against unauthorised construction

    Talking to reporters, he said the buildings — including those of private hospitals, commercial plazas and markets — had been constructed over the past few years...

    “Besides, rules have been violated during the construction of another 260 buildings,” he said and warned that action would be taken against the builders...

  • Builders protest ‘high’ prices of steel, cement

    KARACHI: Builders are agitating against high prices of steel, cement and ceramics, and have asked the government to protect interests of the general public instead of the industry...

    In a statement issued on Thursday, Association of Builders and Deve­lopers (ABAD) Chairman Mohsin Sheikhani said manufacturers were seeking a permanent anti-dumping duty on the import of steel meant for construction...

  • Builders want steps to make cement cheaper

    KARACHI: Builders welcomed the steps taken in the budget 2015-16 to promote the construction sector, though they were critical that no steps have been taken to bring down cement price...

    Salim Kassim Patel, convenor of Association of Builders and Developers’ (ABAD) budget subcommittee, said: “The budget looks positive as a whole...

  • Portuguese builders keen to invest in Pakistan

    KARACHI: Ambassador of Portugal to Pakistan, Joao Paulo Sabido Costa said on Tuesday that Portuguese builders and developers are keen to invest in Pakistan’s construction sector...

    Addressing the members of Association of Builders and Developers (ABAD), the ambassador said Pakistani builders could take advantage of modern construction technologies used by Portugal...

  • Builders say 10pc budget proposals accepted

    KARACHI: Builders and developers said that for the first time the government had recognised the importance of construction industry and that 10 per cent of their proposals had been accepted in the latest budget...

    Addressing a press conference on Thursday, Association of Builders and Developers (ABAD) Chairman Junaid Ashraf Taloo said, “If all our proposals had been accepted, the housing cost would drop by 15 per cent and government’s...

  • Builders ignore Sepa notice for hearing

    HYDERABAD: None of the 30 builders who were issued notices for their personal appearance before the Sindh Environment Protection Agency (Sepa) director general turned up on Tuesday for the hearing of their respective projects in Hyderabad and its outskirts...

    The builders were required to satisfy Sepa that their projects would not contribute to environmental degradation keeping in view of fast-changing land pattern being observed due...

  • Builders wary as cement prices continue rise

    KARACHI: Cement prices have gone up by nearly Rs50 on a bag since July last year after manufacturers passed on the impact of additional taxes and duties announced in the last two budgets...

    The impact of budgetary measures taken in the fiscal year 2016-17 was Rs36 on a 50-kilogram bag, including federal excise duty of Rs30 and general sales tax of Rs6...

  • Builders dismayed, auto industry nonchalant

    KARACHI: Builders and developers said on Friday the federal budget will not help the masses get affordable housing...

    According to Association of Builders and Developers (ABAD) Senior Vice Chairman Mohammad Hassan Bakhshi, a rise in the federal excise duty (FED) on cement from Re1 per kilogram to Rs1...

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