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The Federal Board of Revenue (FBR) has announced a public auction of the iconic Bahria Icon Tower in Clifton, Karachi, to recover outstanding tax dues of Rs26.46 billion from Bahria Town.
The decision comes under Section 138(2)(a) of the Income Tax Ordinance, 2001, and Rule 162 of the Income Tax Rules, 2002.
Officials said the sale would be conducted following the presentation of the federal budget for FY 2025–26.
Along with the Bahria Icon Tower, the Mall of Islamabad has also been listed for auction. These properties are being sold to enforce strict compliance with tax laws and recover substantial dues owed by the Bahria Town group.
The Bahria Icon Tower, a landmark 62-story skyscraper in Karachi’s upscale Clifton area, is one of the tallest buildings in Pakistan and houses commercial offices, luxury apartments, and retail spaces. Its auction marks a significant development in the country’s tax enforcement efforts.
The FBR has stressed that this move is part of a broader strategy to clamp down on major tax defaulters and recover long-pending liabilities. The board has warned that similar action may be taken against other high-profile defaulters if dues are not cleared.
The auction is scheduled for June 19, 2025, at 11:00 AM, and will take place at the FBR’s Large Taxpayers’ Office in Islamabad, located at Plot No. 20, Mauve Area, G-9/1.
This high-stakes auction is expected to draw interest from investors and real estate giants, given the prime location and commercial value of the properties involved.
