ISLAMABAD – Capital Development Authority (CDA) has signed an agreement with a private firm for digitization of parking sites in the country’s federal capital Islamabad.
The joint venture of CDA and a private firm, M/S AJCL will revolutionise car parking facilities across the metropolis. The recent move comes after a meeting of CDA Board, that entails the comprehensive digitisation of car parking infrastructure.
As per the CDA agreement, the installation of the latest parking equipment and the latest parking management system will be formed in all car parking lots in the capital.
The agreement, following a competitive bidding process, stipulates that 25percent of parking revenue will go to the private firm while the remaining 75 percent will be received by Capital Development Authority.
At least eight firms sent proposals till last date of November 30, 2023, and financial bids were opened in a transparent manner till the second week of January 2024. M/S AJCL won the bid with 75 percent revenue share.
This initiative will help curbing traffic congestion and will also boost the economy.
Alert: Check this list of illegal housing societies in Islamabad before investment
