In Lahore, private sector multi-storey building projects face significant challenges. The reason is the rising material costs caused by inflation, fluctuations in the dollar exchange rate, and political uncertainty.

Builders struggle to cope with the financial burden imposed by these factors, leading to a slowdown or even a halt in construction projects. This situation has been exacerbated by the judicial crisis, escalating steel and cement prices, and increasing commercial rates in various areas.

In 2018, the PTI government introduced policies to promote vertical growth in Lahore to protect green areas, enhance environmental conditions, and boost commercial and residential activities in urban areas.

Builders, developers, construction experts, and government departments all supported the culture of high-rise buildings at that time.

However, an official source from the Punjab government revealed that political uncertainty has severely impacted business activities, leading to a slowdown or stoppage of construction projects.

As a result, the LDA’s town planning department has only been able to collect around Rs. 5 billion since July 1 of the previous year, falling short of the target of Rs. 8 billion by June 30 of the current year.