Lahore’s ‘Central Business District’ to generate Rs1.5tr revenue: SAPM Shehbaz Gill

LAHORE: “Lahore’s first-ever Central Business District (CBD) sprawling on an area of 1,600 kanals will generate Rs1.5 trillion (Rs1500 billion) in revenue, and create 250,000 jobs,” said Special Assistant to the Prime Minister on Political Communication Dr Shahbaz Gill, while addressing media.

On occasion, the chief executive officer (CEO), Ravi Urban Development Authority (RUDA) Imran Amin, was also present.

The infrastructure for Lahore’s CBD would be developed in a year as work on the project has already been started; it was further added. The authorities have also planned to set up similar business districts in different cities, including Rawalpindi, Faisalabad, and Multan.

Last week, the authorities auctioned five plots in the CBD, earning Rs21.58 billion at the Lahore Prime Grand Auction, attended by five international companies.

In addition, the government is also working on a comprehensive policy to incentive housing and construction, the SAPM informed.

Due to the government’s efforts, the ratio of housing loan approval has jumped to 40 per cent, from 3.17 per cent recorded in the past. In addition, the ratio of loan disbursement was only 2 per cent which has now jumped to 20 per cent.

 

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