The Punjab government has approved the establishment of Lahore Central Business District (CBD) Development Authority under the chairmanship of Chief Minister Usman Buzdar, on Monday.
The provincial government has taken major step to boost commercialisation activities by giving approval to the establishment of a new authority, Lahore Central Business District (CBD) Development Authority.
According to sources privy to the development, Punjab CM Usman Buzdar will be the chairman of the new authority.
After the approval of the provincial cabinet, the commercialisation activities in posh areas of Lahore will be boosted, whereas, the legislation will enable deputation of retired and on-duty officers of armed forces alongside civil service.
The newly-established authority has been given powers to launch all genres of development works besides acting as an independent institution to finalise matters related to land rules. Moreover, it is given the powers for sale and purchase of land besides devising regulations for water and sewerage charges.
The Lahore CBD Development Authority is also authorised to impose fines against violators of approved master plan for the state land. In Central Lahore, CBD authority will give final approval to construct high-rise buildings.