Lahore Elevated Expressway from Gulberg to Babu Sabo to start in Feb 2022
Standing committee approves Rs35b for 10.6 km long track to complete within one year
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According to the 24News HD TV channel, the committee in a meeting on Monday decided that the Punjab government would take an Rs35 billion loan from State Bank to complete the track.
The committee meeting was attended by provincial ministers Asad Khokhar, Murad Ras and Mian Aslam Iqbal. Lahore Commissioner, DC, LDA Director General and Chief Engineer also participated in the meeting.
The committee decided that the Elevated Expressway project would be funded by the government instead of commercial banks. As per the plan, the Punjab government will borrow more than Rs35 billion from the SBP for the project.
It was decided that LDA would contribute Rs5 billion while the Punjab government would contribute Rs10 billion in Elevated Expressway. The Punjab government will take a loan directly from the SBP and give a loan to the LDA.
According to the decision, LDA will cover the cost in 20 years with the help of toll tax.