Islamabad: The Special Assistant to PM, the establishment of the first-ever Central Business District in Lahore will generate around 1,500 billion worth of rupees along with generating around 250,000 jobs.
Special Assistant to the Prime Minister on Political Communication Dr. Shahbaz Gill also notified that the project would cover an area of 1,600 Kanals and the project is being launched without the help of external loans.
During a presser along with the Chief Executive Officer Ravi Urban Development Authority Imran Amin.
As part of this project, the auction of 5 plots alone has generated an income of 21.58 billion special assistant remarked.
Comparing the project to the previous Prime Land he also noted that per Kanal was auctioned at 100 million. In comparison the 420 million per Kanal auctioned by this government is commendable.
Around 5 international firms have taken part in the bidding process. Gill also added that the development work on CBD has already started. As the CBD’s are set up in Lahore, they will also be established in Multan, Faisalabad, and Rawalpindi Dr. Shahbaz Gill notified. Apart from that, the infrastructure of the CBD in Lahore would be developed in a year.
The unregulated and unplanned expansions across the country have given rise to many problems. This new initiative will help curb this expansion by making sure that a Central Business district is used for primarily commercial purposes. It will not interrupt the environmental habitats.
PM’s aid Shahbaz Gill also added that the Federal Government is working on a comprehensive policy regarding the construction sector and immediate steps have already been taken to incentivize the construction and housing sectors.