FBR decides to auction Karachi's Bahria Icon Tower

The Federal Board of Revenue (FBR) has announced the public auction of Bahria Town’s high-profile Bahria Icon Tower in Karachi and the Mall of Islamabad to recover Rs. 26.46 billion in unpaid taxes, according to reports.

The auction is set for June 19, 2025, at the FBR’s Large Taxpayers’ Office in Islamabad.

The move follows tax recovery proceedings under Section 138(2)(a) of the Income Tax Ordinance, 2001, and Rule 162 of the Income Tax Rules, 2002. The Bahria Icon Tower, a prominent landmark in Karachi’s Clifton area, and the Mall of Islamabad are among the properties being sold to settle the massive tax liability.

FBR officials stated that the auction will proceed after the 2025-26 federal budget presentation, reinforcing the government’s crackdown on tax defaults. The sale aims to ensure compliance with tax laws and recover long-pending dues.

Interested bidders can participate in the auction, scheduled for 11:00 AM at Plot No. 20, Mauve Area, G-9/1, Islamabad.

Read: FBR sets minimum retail price for cement to streamline tax collection

The FBR’s action highlights stricter enforcement against high-value tax evaders, with Bahria Town’s properties being the latest targets.

This development comes amid broader FBR efforts to expand revenue collection, including proposed new taxes on freelancers, YouTubers, and pensioners in the upcoming budget.