The Federal Board of Revenue (FBR) has announced the public auction of the iconic Bahria Icon Tower in Karachi’s Clifton area, along with the Mall of Islamabad, to recover a staggering tax default of Rs. 26.46 billion. The move comes as part of FBR’s intensified efforts to enforce tax laws and recover outstanding dues from high-profile defaulters.

According to the FBR’s public proclamation, the auction will be held after the presentation of the federal budget for 2025-26. Both properties are being sold under Section 138(2)(a) of the Income Tax Ordinance, 2001, and Rule 162 of the Income Tax Rules, 2002.

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.

The FBR’s action targets the recovery of massive outstanding tax dues and sends a strong message about the government’s resolve to enforce tax compliance, even against the country’s most prominent real estate assets.