Pakistan suffer Abdullah Fazal blow ahead of first…

MANCHESTER: British-Pakistani entrepreneur Shafiq Akbar has announced that an online property verification service in Pakistan will be launched next month, describing it as a major step towards protecting overseas Pakistanis from property fraud and restoring confidence in the country’s real estate sector. Speaking at an investment event in Manchester, Akbar said many overseas Pakistanis want to invest in Pakistan, whether to own a home, establish a base in the country or build long-term wealth. However, he said the biggest concern preventing many from investing is the fear of fraud and uncertainty over whether their investment will be secure. He said overseas Pakistanis need confidence that the promises made to them will be fulfilled, whether that is receiving ownership of a home or achieving the expected returns on their investment. “It is our responsibility, as Pakistanis, together with the Government of Pakistan and the private sector, to ensure their investments are protected,” he said. Akbar revealed that an online property verification service will be launched in Pakistan next month, allowing overseas buyers to verify the legal status and ownership of properties remotely before making a purchase. He said Pakistanis living in countries such as the UK will be able to check online whether a property in Islamabad has any legal, ownership or other issues before investing, helping them make informed decisions with greater peace of mind. He said the initiative is aimed at improving transparency in Pakistan’s real estate market and reducing the risk of fraudulent transactions, which have discouraged some overseas Pakistanis from investing. Highlighting Pakistan’s investment potential, Akbar said his experience over the past decade has convinced him that the country offers significantly greater growth opportunities than more mature economies. Comparing Islamabad with London, he said the Pakistani capital has witnessed remarkable infrastructure development over the past five to ten years, including new roads, underpasses, motorways, airport expansion and major public infrastructure projects. He said Pakistan’s growing population, expanding infrastructure and status as a developing economy continue to create strong long-term investment opportunities. Akbar also urged the Government of Pakistan to prioritise the protection of overseas Pakistanis’ investments by strengthening legal safeguards and providing greater security for investors. He said giving overseas Pakistanis confidence that their investments are safe would encourage them to invest back home with peace of mind. The online property verification service has yet to be launched, and further details regarding its implementation, regulatory oversight and the mechanism for verifying property records have not yet been disclosed.

Prices of several essential commodities have increased significantly across Pakistan over the past year, putting additional pressure on household budgets. According to the latest data released by the Pakistan Bureau of Statistics (PBS), major increases were recorded in the prices of several food items and fuel products. Onion prices recorded the highest increase among the commodities listed by the statistics agency. The price of onions rose by 132.52% in one year. Tomato prices also increased sharply by 93.21%, while flour became 62.25% more expensive during the same period. Fuel prices also witnessed substantial increases. According to the PBS, LPG became 51.69% more expensive over the year. Diesel prices increased by 33.08%, while petrol became 27.65% more expensive. The rise in fuel prices can also affect transportation and the cost of goods and services. Several meat and fruit prices also increased during the year. The price of bananas rose by 17.66%, while mutton became 15.98% more expensive. Beef prices increased by 13.54%, adding to the cost of commonly consumed food items. However, some essential commodities became cheaper during the same period. Potato prices declined by 30%, while sugar became 19.10% cheaper. Chicken prices also decreased by 17.68%, providing some relief to consumers. The statistics also showed a decline in the prices of eggs and pulses. Egg prices fell by 17.41% over the year, while chana dal became more than 13% cheaper. Masoor dal prices declined by 12.29%, while jaggery became 6% cheaper. The latest figures show mixed price trends in the country. While consumers received some relief from lower prices of potatoes, sugar, chicken, eggs and pulses, sharp increases in onions, tomatoes, flour and fuel continued to add pressure to household expenses. The data highlights the significant changes in the prices of everyday necessities over the past year.

The Water and Sanitation Agency (WASA) has credited pre-monsoon flood protection measures with preventing urban flooding in Gujrat during the recent spell of heavy rains. Managing Director WASA, Kashan Hafeez, said the city remained safe from potential flooding because of advance planning and the timely completion of key drainage projects before the arrival of the monsoon season. He said a three-kilometre-long protective drain constructed along Mehsam Mor and Fatehpur Road proved highly effective in managing the flow of rainwater. According to him, the project successfully diverted excess water away from residential and commercial areas, significantly reducing the risk of flooding. Kashan Hafeez said rainwater was redirected toward the Halsey Nullah through the newly developed drainage network. By channeling water into natural waterways, authorities were able to prevent water from accumulating in densely populated neighborhoods and major roads. He added that the drainage system functioned as planned despite heavy rainfall, allowing rainwater to flow smoothly without causing widespread disruption to daily life or damage to infrastructure. The WASA chief said the protective drainage network was developed under a Rs2 billion infrastructure project aimed at strengthening Gujrat’s flood management system. As part of the initiative, four major protective drains were constructed to improve stormwater disposal and enhance the city’s resilience against seasonal flooding. He said the successful performance of the project demonstrates the importance of proactive planning and investment in urban infrastructure. According to WASA, the newly built drainage system will continue to play a vital role in protecting Gujrat from future monsoon-related flooding and ensuring the safety of residents during periods of heavy rainfall.