PM inspects Blue Area project site
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Prime Minister Imran Khan visited the site of the new proposed Blue Area business project that is being launched from Monday.
The auction for commercial areas, shops and malls will the conducted from April 14-16, 2020. The site is located opposite F-9 Park, which is approved Blue Area.
"Launching the Islamabad Blue Area multi-billion rupees commercial project today. This will not only provide jobs but will also attract investment from overseas Pakistanis. One mega project to be launched in Lahore and one in Karachi soon," he tweeted on Sunday.
Launching the Islamabad Blue Area multi billion rupees commercial project today. This will not only provide jobs but will also attract investment from overseas Pakistanis. One mega project to be launched in Lahore and one in Karachi soon. pic.twitter.com/x1i7KlJ0hs— Imran Khan (@ImranKhanPTI) March 1, 2020
Earlier, during his site visit, the Prime Minister was briefed that the receipts from the commercial auction will be utilized primarily for the rehabilitation of Islamabad, provision of civic services and improvement of the environment.
Chairmen of CDA and NAPHDA briefed the Prime Minister regarding the initiative
The prime minister instructed to take care of trees in the area during the construction activity.
A portion of the acquired land will be utilized for construction of low-cost housing, particularly for the respectable accommodation of the residents of approved Katchi Abadis through NAPHDA.
This initiative coupled with several incentives to the construction sector - including ease of deposit in Advance Tax on pro-rata basis - will encourage investment, result in job creation and speed up economic activity in the country.