Punjab Province

Lahore | ReNews Pakistan
Following the Federal Budget 2026-27, Pakistan’s real estate sector has once again come into the spotlight. Property dealers, builders and investors are closely watching the government’s proposed tax reforms, measures aimed at easing property transactions and possible incentives for the construction sector.
Recent economic policies and efforts to broaden the tax net have also had an impact on the property market.
According to market circles, if certain taxes imposed on property sale and purchase are reduced, investment activity may pick up in major cities, including Islamabad, Lahore and Karachi. Some builders say the construction industry is already under pressure due to rising costs and weak demand, and any proposed facilitation under government policy could provide much-needed relief to the market.
On the other hand, the issue has triggered a mixed response on social media. In real estate groups on Facebook and YouTube, several users described the budget proposals as positive. However, a large number of users questioned whether these announcements would actually be implemented or remain limited to policy statements.
Users have also expressed concern over NOC-related issues, delays in projects, low liquidity in the market and increasing tax monitoring measures. Experts say the current environment can be described as “cautious optimism,” where investors are waiting for the practical implementation of government policies before making final decisions.

Lahore | ReNews Pakistan
The Lahore High Court has rejected a request to immediately suspend the Punjab government’s notifications regarding agricultural tax and has directed the respondents to submit their replies within two weeks.
The matter came before the court on petitions filed by MPA Ijaz Shafi and the Judicial Activism Panel, challenging the increase in agricultural income tax in the province. The petitioners questioned the legality and constitutional validity of the revised tax rates, arguing that the government had altered the agricultural tax structure without proper legislative approval.
During the hearing, counsel for the petitioners argued that taxation could not be imposed, increased or modified through executive notifications alone. He maintained that any change in tax rates required the approval of the provincial legislature and must follow the constitutional process.
The counsel contended that the impugned notifications bypassed the role of the Punjab Assembly and violated several constitutional provisions, including Articles 4, 9, 19-A, 25, 38, 77 and 127. He argued that the executive authorities had acted beyond their powers by revising agricultural income tax rates without democratic oversight and legislative sanction.
The petitioners further submitted that the revised agricultural tax regime had placed an unfair burden on farmers and the agricultural community. They claimed that the measures were discriminatory in nature and had the potential to affect farmers’ livelihoods, rural incomes and overall economic stability.
According to the petitioners, the agriculture sector was already facing multiple challenges, including rising input costs, unstable crop prices and financial pressure on growers. They argued that imposing additional tax liabilities without proper debate and approval by the assembly would worsen the economic difficulties of farmers.
After hearing the initial arguments, the Lahore High Court declined to grant interim relief and refused to suspend the contested notifications at this stage.
However, the court issued notices to the respondents and sought their replies within a fortnight.
The case is expected to determine whether the provincial government’s revised agricultural tax measures were introduced in accordance with constitutional requirements or whether they require formal approval from the elected assembly.

Rawalpindi: [ReNews Pakistan]
The Rawalpindi Ring Road project has entered a crucial phase as its June 30 deadline approaches, with around 90 percent of construction work completed but key portions of the project still unfinished.
According to officials of the divisional administration and Rawalpindi Development Authority, about 10 percent of the work remains pending on the Rs47 billion project.
They expressed concern that the road may not be fully completed within the deadline set by Rawalpindi Commissioner Abdul Aamer Khattak, who is also serving as the project director.
Officials said more than eight kilometres of road carpeting is still pending, while important side works related to drainage, right of way and roadside safety have also not been completed. Installation of lampposts and lights is under way and may take around a month to finish.
Even if construction work is completed by June 30, officials said the road may require additional time before it can be opened for traffic. They said the provincial government is expected to send a team to inspect the project and decide whether the road is fit for public use.
Deputy Project Director Ashfaq Sulheri said asphalt work on 38 kilometres of the road had already been completed, while work on the remaining eight-kilometre portion was likely to be completed within the stipulated time. However, he was not certain whether the road would be opened for traffic by the end of June.
He said work on the Thalian Interchange is expected to begin after the completion of the main Ring Road project, most likely in July.
The Rawalpindi Ring Road spans 38.3 kilometres from Baanth on G.T. Road to Thalian near the Motorway. The project includes five interchanges at Baanth, Maira Mohra, Khasala, Kolian Parr and Thalian. An industrial zone is also planned along the road corridor.
The Rawalpindi Development Authority is the executing agency for the project, while Frontier Works Organisation is carrying out the construction work. Around 8,992 kanals of land has been acquired for the project at a cost of Rs 6.7 billion.
The road has been designed as a six-lane controlled-access corridor with a 90-metre right of way and a design speed of 120 kilometres per hour. The project also includes two river bridges, 12 bridges over nullahs, one railway bridge near Baanth and 11 overpasses.
The Ring Road project has gone through several changes over the years. During the PTI government, a 68-kilometre alignment was initially planned, but work was later stopped following a financial scam. A revised 38.3-kilometre alignment was subsequently approved.
Former prime minister Imran Khan laid the foundation stone of the project in March 2022. Later, the PDM government led by Shehbaz Sharif temporarily halted the project before allowing it to proceed after third-party validation. Shehbaz Sharif also laid the foundation stone at Rawat on August 8, 2023.
The project is considered one of the most important road infrastructure schemes for Rawalpindi, as it is expected to reduce traffic congestion, improve regional connectivity and support future industrial and commercial development along the corridor. However, with several components still incomplete, its formal opening for traffic may depend on inspection, safety clearance and final finishing work.