Punjab govt collects Rs 21.8b revenue through auction of five CBD plots: Gill

F.P. Report

ISLAMABAD: Special Assistant to the Prime Minister on Political Affairs Dr Shahbaz Gill on Thursday said Punjab government generated Rs 21.8 billion revenue from auction of only five plots of Central Business District (CBD) Lahore through bidding.
Addressing a press conference along Ravi Urban Development Authority Chief Imran Ameen, he said on the pattern of developed countries, the first CBD was being set up in Lahore. The project was being launched without any loan and it would generate Rs 1500 billion revenue for the Punjab government, he added. He said the project would also help generate at least 250,000 new job opportunities.
Shahbaz Gill said CBD and Ravi River Project were people welfare projects of the incumbent government. Prime Minister Imran Khan was personally monitoring it, he added.
He said physical work has already been started on it and stretched over1600 kanal prime land of Lahore. As many as five International companies including Turkey biggest company Big Arter participated in the bidding process, he added.
He said in past prime state land in Lahore was auctioned at only Rs 100 million per Kanal but now it was auctioned at Rs 420 million per Kanal.
Shahbaz Gill said the authority set up for CBD would approve maps within 21 days. In past, projects like Metro Bus and Orange Line Train were set up for which Rs 12 billion per year subsidy was being given besides paying its loan installment.
He said CBD would also be set up in Faisalabad, Multan and Rawalpindi.
The amount generated through these projects would be spent on welfare of the masses, he said.
Regarding provision of loans for housing sector, the SAPM said a sum of Rs 10 billion loan was disbursed among the people during the last three months. Earlier, ratio of loan approval was mere 3.17 per cent which has no jumped to 40 per cent, he added.
Similarly, ratio of loan disbursement was only 2 per cent which now has increased to 20 per cent, he said. Shahbaz Gill said new policy about highrise buildings would soon be introduced in the country in order to curtail unplanned expansion of cities.
Responding to a question, he said infrastructure would be developed within 12 months. Ravi Urban Development Authority Chief shared the details of the project.