Islamabad Capital Territory

Islamabad | ReNews Pakistan
Pakistan has launched its first electricity wheeling auction, with 400 megawatts of power being offered in the initial phase. The Ministry of Energy said the process has begun with the issuance of a Request for Proposals under the Competitive Trading Bilateral Contract Market framework.
The wheeling auction will allow eligible power producers and large consumers to access the national transmission and distribution network and participate in bilateral electricity transactions through the competitive market. Under the Wheeling Auction Guidelines, a total of 800 megawatts is planned to be auctioned over the next five years, with 400 megawatts being offered in the first auction.
The auction process will consist of five stages, including the issuance of auction documents, eligibility assessment, bid evaluation, approval of auction results and award of the allocated electricity volume. The complete process will be conducted through a dedicated auction platform.
Federal Minister for Energy Sardar Awais Ahmad Khan Leghari said the transition of Pakistan's electricity procurement system towards a competitive market had been under consideration for three decades and has now entered the implementation stage. He said consumers using more than one megawatt of electricity would benefit during the initial phase.
According to the Ministry of Energy, competitive electricity procurement could provide industrial consumers with access to relatively lower cost power, helping reduce production costs and improve competitiveness in international markets. The ministry said the benefits of the competitive system are expected to gradually extend to other consumers.
The Independent System and Market Operator has invited eligible participants to take part in the auction. The Request for Proposals includes eligibility criteria, submission requirements, prescribed formats, auction procedures and the complete timeline for the process.
A wheeling auction is a modern and competitive electricity market mechanism under which private power producers (IPPs or energy developers) can use the public grid and transmission lines to sell their electricity directly to large buyers, such as industrial companies and corporate customers.
The primary objective of the auction is to shift Pakistan's electricity market away from the single buyer model, in which the government was the main buyer and seller of electricity, towards an open and competitive wholesale electricity market under the Competitive Trading Bilateral Contract Market (CTBCM) framework.

Islamabad | ReNews Pakistan
The Federal Government Employees Housing Authority (FGEHA) is preparing to introduce new housing schemes for applicants currently on its waiting list, as the government moves to expand residential facilities for federal government employees.
The development was discussed during the 52nd Executive Board meeting of FGEHA, held at the Ministry of Housing and Works and chaired by Federal Minister for Housing and Works Mian Riaz Hussain Pirzada.
The meeting reviewed the progress of ongoing housing projects, the status of existing allottees and plans for new residential schemes. The federal minister directed the authority to accelerate work on pending projects and ensure their practical implementation and timely completion.
According to the briefing, FGEHA is working on new housing schemes to accommodate people who remain on the waiting list and provide them with residential facilities. The initiative is aimed at expanding the authority’s housing capacity and addressing the demand for residential plots and facilities among eligible applicants.
The meeting also focused on the handover of possession to existing allottees. The minister directed the authorities to ensure that allottees who have already been allocated plots receive possession at the earliest possible stage, subject to completion of the required development work.
Progress on major FGEHA projects was also reviewed, including Sectors F-14 and F-15 in Islamabad and the Margalla Orchard project, being developed through a joint venture with DHA.
The board reiterated its commitment to completing ongoing housing projects, accelerating development activities and improving facilities for existing allottees. The authority was also directed to maintain focus on the timely execution of projects while working on new schemes for applicants on the waiting list.
The decisions reflect the government’s broader effort to expand public sector housing opportunities, complete delayed residential projects and facilitate eligible allottees through faster development and possession processes.

Islamabad | ReNews Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has proposed a set of key regulatory reforms to promote Real Estate Investment Trusts (REITs), expand investment opportunities and strengthen transparency and regulation in Pakistan’s real estate market.
The SECP has invited comments and recommendations from stakeholders on the proposed amendments, aimed at facilitating long-term investment in the real estate sector and creating new investment opportunities in the country’s relatively shallow capital market.
Under the proposed reforms, the minimum threshold for income generated from real estate and related real estate assets may be reduced from 75 percent to 65 percent. The proposed change is intended to provide REIT schemes with greater flexibility in managing their asset portfolios and investment structures.
The SECP has also proposed extending the permissible tenure of loans obtained from sponsors, directors and related entities from 24 months to 36 months. The longer tenure could provide REIT projects with additional time for financial management and project execution.
The proposed framework also includes consideration of an additional one-year period for the listing of real estate schemes. In addition, REIT schemes may be allowed to hold vacant land and plots for up to one year, potentially facilitating land acquisition and phased development planning.
Another proposed reform would allow certain group trusts and employee funds to invest in unlisted real estate schemes, potentially creating additional avenues for institutional investment in the REIT market.
According to the SECP chairman, the process of acquiring property from government and development agencies will also be streamlined. The reforms are aimed at promoting long-term investment through REITs, enhancing transparency in the real estate market and creating more structured investment opportunities for investors.
The authorities are seeking to strengthen the role of REITs as a financial instrument amid sluggish activity in Pakistan’s real estate sector and the limited depth of the capital market. Through REITs, investors can gain exposure to regulated real estate projects without having to directly purchase and manage properties themselves.
The proposed amendments have been placed before stakeholders for feedback and recommendations ahead of final approval. Following the consultation process, necessary changes may be incorporated into the regulatory framework.