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CBD Punjab drives transformation, reshaping the future of Punjab

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Lahore – Cities and regions go beyond just roads, buildings, and infrastructure. They are where people live, pursue their dreams, and forge their futures. Punjab has long been a land rich in stories—heritage, culture, and resilience. Today, it is also emerging as a region geared up for future opportunities.

The creation of the Central Business District Punjab (CBD Punjab) is part of that journey. When the idea for CBD Punjab was first conceived, the goal was not simply to develop another commercial hub. It was to create a modern urban ecosystem that could support economic growth across Punjab while improving the everyday lives of its people. Over the past five years, that vision has steadily taken shape.

Development should ultimately serve the people who live and work across the region. That is why one of the primary focuses has been improving connectivity and mobility in key areas of Punjab.

Projects such as CBD Route 47 and the transformation of major corridors like Walton Road are designed to make movement easier for commuters, businesses, and communities alike. These initiatives are not just infrastructure upgrades; they are investments in how people experience their surroundings—reducing congestion, improving access, and supporting the growth of surrounding districts. A region that moves efficiently creates opportunities for everyone.

For any region to grow sustainably, it must attract investment that generates jobs and drives economic activity. Over the last few years, CBD Punjab has introduced transparent and competitive commercial land auctions that have generated strong investor interest.

Behind every investment lies the potential for new businesses, employment opportunities, and economic growth that benefits communities across Punjab. The strong response from investors reflects a shared confidence in Punjab’s potential as a modern economic powerhouse.

The future of Punjab will be shaped not only by infrastructure but by ideas. That is why the development of NSIT City holds particular importance. NSIT City is envisioned as a hub where technology, research, and entrepreneurship come together. By connecting universities, technology companies, and innovators, the project aims to create opportunities for young professionals and entrepreneurs across Punjab to build their careers and businesses. For the youth of Punjab, this represents a platform to turn ideas into impact.

While development is essential, it must be balanced with responsibility toward the environment and future generations.

At CBD Punjab, sustainability remains a key part of the planning approach. From incorporating green spaces to encouraging energy-efficient development, the aim is to ensure that progress does not come at the expense of environmental well-being.

A truly modern region must grow in ways that remain mindful of its surroundings and its people.

The past five years have laid an important foundation, but the journey of CBD Punjab is far from complete. The aspiration is to see Punjab emerge as a region that combines its rich heritage with modern opportunita place where businesses can grow, innovation can flourish, and communities can thrive.

Ultimately, the story of CBD Punjab is about more than infrastructure. It is about people—creating spaces where ambition can grow, opportunities can expand, and the future of Punjab can unfold. Because when development is centered on people, progress truly belongs to everyone.

Gold

Today’s gold rates in Pakistan – June 24, 2026

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KARACHI – On June 24, 2026, gold prices in Pakistan decreased, following the downward trend in international markets.

According to the Saraffa Association, the price of 24-karat gold per tola decreased to Rs 436,000 after a fall of Rs 12,000, while the rate for 10 grams was Rs 373,810.

 

Today’s Gold and Silver Rates in Major Cities
City Gold Rate Silver Rate
Karachi PKR 436,000 PKR 3,830
Lahore PKR 436,050 PKR 3,830
Islamabad PKR 436,100 PKR 3,830
Peshawar PKR 436,150 PKR 3,830
Quetta PKR 436,200 PKR 3,830
Sialkot PKR 436,000 PKR 3,830
Hyderabad PKR 436,000 PKR 3,830
Faisalabad PKR 436,500 PKR 3,830
Multan PKR 436,000 PKR 3,830

Note: It is pertinent to mention here that Upfront News in no way claims these rates to be accurate at all times, as the prices can continuously vary.

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Today’s currency exchange rates in Pakistan – June 24, 2026

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KARACHI – Foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, Euro, and other currencies in Pakistan open market on June 24, 2026. The US Dollar’s buying rate stands at Rs 279.05, and the selling rate at Rs 279.3.

Several other currencies, which include the Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNY), Danish Krone (DKK), Japanese Yen (JPY), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), New Zealand Dollar (NZD), and Swiss Franc (CHF), showed no significant change in their rates compared to the previous update.

Currency Symbol Buying Selling Charts
Australian Dollar AUD 193.37 196.95 📊
Bahrain Dinar BHD 737.16 747.75 📊
Canadian Dollar CAD 197.52 201.17 📊
China Yuan CNY 38.1 38.85 📊
Danish Krone DKK 43.35 43.75 📊
Euro EUR 318.55 322.17 📊
Hong Kong Dollar HKD 35.06 36.04 📊
Indian Rupee INR 2.75 3.05 📊
Japanese Yen JPY 1.71 1.81 📊
Kuwaiti Dinar KWD 885.17 895.9 📊
Malaysian Ringgit MYR 67 67.85 📊
NewZealand $ NZD 157.64 161.65 📊
Norwegians Krone NOK 27.97 28.27 📊
Omani Riyal OMR 722.25 732.5 📊
Qatari Riyal QAR 75.04 75.95 📊
Saudi Riyal SAR 74.3 74.95 📊
Singapore Dollar SGD 213.9 217.64 📊
Swedish Korona SEK 30.25 30.55 📊
Swiss Franc CHF 342.45 346.2 📊
Thai Bhat THB 8.5 8.75 📊
U.A.E Dirham AED 75.9 76.75 📊
UK Pound Sterling GBP 368.52 372.25 📊
US Dollar USD 279.05 279.3 📊

Note: The rates may vary due to the continuous fluctuations in the market.

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Business

All about Budget 2026-27 approvals with key fiscal, tax and development changes

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ISLAMABAD – The National Assembly has approved the federal budget for FY2026-27 without opposition, introducing wide-ranging fiscal, tax and development measures effective from July 1, 2026.

The government has set GDP growth target at 4% with inflation projected at 8.2%, while FBR revenue target has been fixed at Rs15,264 billion, up 17.6% year-on-year. Total federal expenditure stands at Rs18,771 billion, including Rs8,054 billion for debt servicing.

Defence allocation has been raised to Rs3,000 billion, while the Public Sector Development Programme is set at Rs1,000 billion, with overall development spending at Rs3,675 billion.

Social protection under BISP has been increased to Rs838 billion, covering 12 million families and education stipends for 9.2 million children. The PM Apna Ghar scheme has been allocated Rs71 billion.

Tax relief measures include reductions in income tax for salaried individuals, proposed removal of the 10% surcharge, and business tax cuts including lower super tax.

Relief has also been extended to exporters, IT sector, property transactions, and foreign card payments, while some levies such as Capital Value Tax on financial assets are proposed for abolition.

Development priorities include transport, energy, water, housing, and urban infrastructure, with major projects such as ML-1 Karachi–Rohri, Diamer-Bhasha Dam, Mohmand Dam, and K-IV receiving funding.

Salary and pension hikes of 7% each and a 10% increase in minimum wage have been proposed, alongside EV incentives, privatization of state entities, and expansion of digital economy initiatives.

Further details of implementation and tax procedures will be issued through official notifications.

Area Original Finance Bill Standing Committees Version
Imported mobile phones No facility to pay PTA/DIRBS tax in installments Individuals may be allowed to pay imported phone tax in installments, provided installments are cleared before the end of the financial year
Mobile phone tax rates Existing Ninth Schedule rates were not revised Rates are still not reduced or revised; only the installment facility is added
Petroleum levy framework Proposed detailed rules for petroleum and carbonated support levies, including reporting, recovery and late-payment surcharge The entire proposed amendment package has been removed
Life insurance and takaful payouts Tax exemption applied only after completing seven years Exemption will apply after four years. The 10% tax will now cover payouts after one year but before four years
Social media income tax 5% for resident persons on the ATL and 5% for non-residents Rate follows tax return filing status only, removing ATL/non-resident distinction from the rate wording
Section 6A fixed-tax regime Tax became adjustable where turnover exceeded Rs. 200 million Persons with turnover up to Rs. 200 million may also opt out through a final and irrevocable certificate for Tax Year 2027
Failure to integrate with FBR Up to 5% of expenditure could be disallowed Disallowance reduced to 3% of expenditure
Export-oriented businesses No corresponding exemption Super tax under Section 4C will not apply where export proceeds exceed 80% of total turnover
Private equity and venture-capital funds No new exemption in the original proposal Income exemption introduced where at least 90% of accounting income is distributed, subject to conditions
Airline imports Sales tax exemption was limited to PIA Exemption extended to aircraft and parts imported or leased by any Pakistan-registered airline, effective July 1, 2027
Coal imported for power producers No special 1% minimum value-addition rate Minimum value-addition tax fixed at 1% where imported coal is supplied directly and exclusively to IPPs
FBR sharing tax return data FBR could share sectoral sales-tax return data among registered businesses under non-disclosure agreements This proposed power has been removed
Customs penalty Certain customs penalty proposed to rise from Rs. 500,000 to Rs. 10 million Increase reduced to Rs. 5 million
Independent scrutiny committees No provision for a chartered accountant as a member Committees may co-opt a chartered accountant as a non-voting member; limitation periods are also protected during committee review
Appointment of external auditors Taxpayer had not stated right to object to FBR’s first nominee Taxpayer may object within 15 days; then FBR may appoint another auditor at its discretion

 

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