Punjab Province

Lahore | ReNews Pakistan
The federal government has finalised a plan to significantly reduce taxes on the sale and purchase of property in the upcoming budget, aiming to revive the real estate sector and boost construction activity across the country.
The government is currently holding discussions with the International Monetary Fund over this major policy shift. However, the proposed measures have reportedly faced reservations and opposition from the global lender.
Despite the IMF’s strict conditions, the government is moving ahead to finalise the proposals.
Under the proposed relief package, the tax rate for filers on the purchase of immovable property may be reduced from the existing 1.5 percent to just 0.25 percent. In addition, the tax imposed on the sale of property is also proposed to be brought down from 4.5 percent to 1.5 percent.

Vehari: [ReNews Pakistan]
An important meeting regarding ongoing development projects in Vehari district was held under the chairmanship of Deputy Commissioner Khalid Javed Goraya, during which progress on various projects under the Punjab Development Programme, PCP Programme and beautification initiatives was reviewed.
During the meeting, the Deputy Commissioner directed the relevant officers to ensure that all development projects are completed within the stipulated timeframe so that citizens can benefit from these facilities at the earliest. He said the timely completion of public welfare projects, in line with the vision of Punjab Chief Minister Maryam Nawaz Sharif, is the top priority of the district administration.
The meeting was briefed that work is underway on water drainage, sewerage and other basic facilities under the Punjab Development Programme. The construction of an underground water storage tank will help store rainwater and reduce drainage related problems.
The meeting was further informed that work is also continuing on roads, water supply and other public facilitation projects under the PCP Programme. The Deputy Commissioner directed that the beautification work of Rail Bazaar be completed by June 15, adding that all departments should work in close coordination to improve the city’s appearance and basic infrastructure.
Additional Deputy Commissioner Finance and DD Development Muhammad Afzal, SDO Muhammad Musa, and officers of the District Council and Municipal Committee were also present on the occasion.

Lahore | ReNews Pakistan
The Lahore Development Authority (LDA) has introduced a comprehensive plan for the upgradation of Pine Avenue, one of the city’s rapidly developing commercial and business corridors, with the proposed construction of an underpass at Shino Baba Chowk as its central component.
According to the LDA, the authority has forwarded the project to the Punjab government for approval under the Annual Development Programme.
The proposed underpass will be constructed at the junction of Pine Avenue and New Defence Road, while the existing roundabout at Shino Baba Chowk will be removed.
The project is aimed at improving traffic flow on this busy road and reducing vehicular pressure at the important intersection, which connects several residential and commercial areas.