Fire erupted at Ali Towers situated on Lahore's MM Alam road on Saturday, rescue sources said.
Reports suggest that a men fell off the building in a bid to escape the fire.
The man sustained critical injuries and has been shifted to a nearby hospital by the local administration.
The rescue teams have reached the site of the incident and the fire brigade personnel are currently engaged in dousing off the fire.
The rescue authorities on the ground suspect that a number of people are stuck in the building.
The fire has been extinguished at the basement of the plaza and the procedural cooling process is underway.