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Advise required for investing 2 Million in safe society in lahore,

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   Rizwan®
Thursday, August 11, 2016 08:42 AM 
Reply: >
AOA dear members,
One of my friend has saved 2 million from his hard earned life time savings. Please advise me where he can invest this money in real estate of lahore? Any safe and good options?

Regards.
Test_Passed_As_Entered_Ok® replied on Thursday, August 11, 2016 09:00 AM 

Congratulations to Ishaq Dar

For the first ever time in more than 5 years, overseas remittances are reduced by 36%. Let Ishaq Dar put more taxes on Property and it will have big impact on economy. Overseas has stopped investing in property

https://jang.com.pk/latest/155576-a-reduction-of-36-in-remittances-in-july
AHMAD HASSAN® replied on Thursday, August 11, 2016 09:12 AM 

Remittance didn't reduce due to taxes. This is recession, 100000s people has lost their jobs. Same is happening with India too, in fact they are experiencing outbound remitance where many needs cash to settle loans before leaving country. 55% source of remitance in Pakistan is GCC countries. I request all Pakistanis to pray for us.
Proud Pakistani replied on Thursday, August 11, 2016 09:19 AM 

I loved to see this type of action by overseas Pakistanies. I don't know why Dar always thinks of IMF's little borrowing amount and overlook many more time remittances than IMF which Pakistan is receiving p.a from overseas and that is the actual fund which is supporting to get rid of IMF instead not his efforts to play with numbers. He thinks everyone is stupid and doesn't know how Pak economy is surviving.
M Zahid® replied on Thursday, August 11, 2016 09:43 AM 

Ahmad Hassan,
Disagree with your logic that it is due to recession. why it it happened in the month of July. GCC market is affected since one year. wait for the numbers to come out and you will see overseas Pakistani specifically from EU and North america has held back their investment plans. it may be short term but investor has been put into shock.
Jang newspaper was also taking the lead on property taxation but now pouring oil on fire with such news.
Although taxes have been made slightly blunt but still shock and loss of confidence is there.
In plain words no one will stop FBR to up the evaluations every year and peoples questioning to prove the source with legitimate remitance is big thing until govt come forward to facilitate OPNs by allowing them to open the account like Indian.
AHMAD HASSAN® replied on Thursday, August 11, 2016 10:01 AM 

Dear Zahid Bahi, till june no one noticed & moreover many who lost jobs were on notice period. Things will be worst in coming months. Yes I agreed with you that new taxes has impact too.
AHMAD HASSAN® replied on Thursday, August 11, 2016 10:03 AM 

Also GOVT don't like to publish correct figures before budgets :)
User_19995® replied on Thursday, August 11, 2016 10:05 AM 

yes i am totally agreed with Ahmad bhai
Flex01® replied on Thursday, August 11, 2016 10:07 AM 

Well M Zahid has a point. In my view, certain percentage is remitted for meeting monthly expenses. Others are send as and when some one is buying a property etc. So since end Jun, no major property transactions happened. Hence, people did not remit the money in Pakistan.
User_19995® replied on Thursday, August 11, 2016 10:10 AM 

other aspect is that the news of remittances are circulated mainly by Jang group and also they did prog on this topic i.e impact on economy in pak coz of GCC market.

By this they also just want to put all credit of market slum on GCC market not by the taxes.

So M zahid is also right in this regard
Rizwan® replied on Thursday, August 11, 2016 10:21 AM 

Though u discussing a good point but i think i inquired about investment of 2 million? :P
User_G7722® replied on Thursday, August 11, 2016 10:23 AM 

Dear Ahmad Hassan Sb

I tend to disagree with your point. You might be right partially but major impact is these unfair taxes by Mr Ishaq Dar/PMLN Govt. I'm GCC resident but have stopped my remittances and investment since May. Only sending few thousand Rs for home expenses.

Another shock came by knowing that whatever I was sending at home for investment is "Illegal Money" in the eyes of blood sucker FBR. I always used money exchanges (Never used hundi etc) but bcoz I don't have PRC from receiving bank in Pakistan, so my hard earned salary is "Illegal" now. Although Govt of Pakistan

- Stamped my Passport from "Protectorate Deptt" going abroad for job

- Issued my Overseas Foundation card recognizing me expat Pakistani

- Issued me "Remittance Card" against remittances made to avail customs concession in Pakistan

BUT STILL - I need PRC for each of my transaction to prove it legal. SHAME ON THESE MORONS and to those who made this system.
AHMAD HASSAN® replied on Thursday, August 11, 2016 10:30 AM 

Am not excluding property taxes. But we need to concider all factors. As per news 36% drop is in single month. Wait till q4 end. Am afraid from flight of money too that was orginal motor of one media group.
HudaFier replied on Thursday, August 11, 2016 10:42 AM 

I work in a Gulf Country, it is a Mixture of All of the above reasons and more ... the Employees are not paid and hence weren't able to remit money to Home & Family.

Also indeed in current outlook when Dollar (pegged to Riyal & Darham) is showing strength while outlook of Pakistan real estate and Gold market is confusing, those who have extra cash are trying to hold it for time being.

But biggest reason is Ramadan and Eid .. Most People every Ramadan either remit home extra money in view of extra expenses or travel home on vacation taking advance salaries, as a result the concurrent month (in this case June) see a spike in remittances while the susequent month in this case July see a drop (adjustment of the same).

Unless we see a downward trend in coming months .. it is not that much of a big deal as people want to portray it for just to prove themselves right!
M.K.Suleman replied on Thursday, August 11, 2016 11:09 AM 

I am living in Qatar for the last one decade and to tell you the fact that majority of overseas here have no option but to send their earnings back home. Remittances started dropping much before the imposition of new taxes on property. Major chunk of money comes from GCC countries, unfortunately these countries are finding hard to meet budgetary requirements for development projects and new projects are not coming by, as a result companies are downsizing. Developing countries who largely rely on foreign remittances are facing the brunt of meltdown and in coming years the effect shall be more pronounced. If we are to survive in trying times that is imminent ahead, government instead of relying on change of hands for money in property business should reduce the cost of doing productive business side by side develop agriculture base and water resources. Countries who would have water reserves coupled with agricultural economy shall be the richest in the world and Pakistan has all potentials to capitalize on these resources.
KK® replied on Thursday, August 11, 2016 12:17 PM 

M. K Suleman,

Agriculture base is good but cannot help in country's progress coz kaddoo teenday baich kay you cant feed 200 million people and earn money....progress is only by research n technology advancement....Germany is not agri based economy but its GDP is more than all Muslim countries together including GCC
Muhammad Asif® replied on Thursday, August 11, 2016 12:46 PM 

Dear Rizwan,
Learn from above posts and wait for some time :-)
AHMAD HASSAN® replied on Thursday, August 11, 2016 12:58 PM 

@ KK, کدو and ٹینڈے, Sector is the largest employer of country. This is true we canot depend on agricultural for growth of our economy but we can get better results if we apply technology in this sector as well. Agreed with you but must read following success story.

http://tribune.com.pk/story/353869/high-tech-agriculture-the-extraordinary-profits-of-hydroponic-vegetable-farming/
MIT® replied on Thursday, August 11, 2016 01:42 PM 

@Rizwan. See how interesting this forum is. You can get lost with your actual question in such 'discussions' You have so much education and answers to your query here indirectly or even unrelated though. Read it one more time and just hold your money tight, wait as advised by Mr. Asif.
LOYAL PAKISTANI replied on Thursday, August 11, 2016 02:20 PM 

There is over all slump and pace of world economy is at snails pace in real economics term.

Oil prices crises are stern in GCC. It will take few months to come these things normal.

Let's hope for the best in Pakistan and people should also invest in different venture to create jobs n participate in real upward progress in the economy of the Pakistan.
replied on Thursday, August 11, 2016 10:23 PM 

Mostly investment in property and remittance is increasing nearly Eid.Many overseas are visiting to home at Eid.But this time it is deceased on Eid days and overseas invest a little due to taxes.On the other hand properly of Dubai is on rise.
Kaleem khan replied on Friday, August 12, 2016 02:24 AM 

Investment in property are stop due to heavy taxes and Slump period ahead.
Look forward for others options. Mostly dealer can't accept due to there own interests.
Amjad Rashid replied on Friday, August 12, 2016 07:32 AM 

Rizwan® With this budget, you must invest in Audit & Accounts Phase 2 as it is falling on Lahore Ring Road Southern Loop, and is still very cheap.

You can buy a 4 or 8 Marla Plot in this Budget. But you must physically go there and verify the plot location is safe from Ring Road. Red coloured Concrete Pillars of Ring Road clearly show the plots falling in Ring Road.

After one year you will be remember for this best advice as the existence of Ring Road there at that time will increase the prices there to a great extent.
alpha replied on Saturday, August 13, 2016 04:07 PM 

Sir Rizwan asked for a simple questions - and pundits are discussing world economics
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