FBR Implements Property Rate Hike in 45 Cities to Align with IMF Agreement

The Federal Board of Revenue (FBR) has issued a new notification adjusting official property rates in 56 cities across Pakistan. This decision is part of the government’s ongoing efforts to meet financial obligations agreed upon with the International Monetary Fund (IMF). Starting November 1, property rates in 45 cities will increase by up to 5%, bringing official valuations closer to approximately 80% of current market rates.

Among the cities impacted by the revised rates are Peshawar, Abbottabad, Faisalabad, and Gujarat, along with a number of smaller cities where rates have remained stagnant for years. Updated rates have also been released for regions such as Attock, Haripur, and Hyderabad.

However, eleven key cities, including Karachi, Lahore, Rawalpindi, Islamabad, and Multan, will see no changes in property valuations under the new notification. Other cities exempt from the revision include Quetta, Gwadar, Bahawalpur, Lasbela, Rahim Yar Khan, and Sargodha.

The FBR’s updated property rates aim to bridge the gap between official and market valuations, bringing Pakistan’s property sector more in line with international financial standards. As the government continues implementing IMF-backed reforms, further adjustments may follow, affecting property valuation and tax collection across additional cities.