Auction of commercial plots next month
Zubair Qureshi
Islamabad
Prime Minister Imran Khan on Sunday visited the proposed site of New Blue Area opposite the Fatime Jinnah Park (F-9 Park) and reviewed the progress regarding development of 170-kanal land into premium commercial site.
The new commercial plots will be sold to developers and investors through open auction to be held on April 14.
During his visit, the Prime Minister said revenue generated from the commercial plots auction will be utilized primarily for rehabilitation of the federal capital, provision of services and improvement of environment.
A portion will also be utilized for construction of low cost housing, particularly for provision of dignified accommodation to residents of approved katchi abadis through Naya Pakistan Housing and Development Authority, he further remarked.
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, said the prime minister.
During his visit to the site, Prime Minister Khan was briefed by Chairman of the Capital Development Authority (CDA) and Chairman Naya Pakistan Housing & Development Authority (NAPHDA) and site engineers about the pace of development, architecture designs and state-of-the-art practices.
Later in a tweet too the prime minister hoped the project would accelerate huge business activities in the capital and “This will not only provide jobs but will also attract investment from overseas Pakistanis.”
A chunk of the revenue would also be utilized for construction of low cost housing units particularly for provision of respectable accommodation to residents of approved slums through NAPHDA.
A senior official of the CDA who accompanied the prime minister on the occasion said particular instructions have been given that trees should be preserved in this venture.
The prime minister said one such mega project would also be launched in Lahore and Karachi soon.
It was last Monday when the prime minister gave a go-ahead for developing the vacant land opposite the park into a commercial hub. The existing blue area of Islamabad is the most congested commercial market of Islamabad where thousands of businesses are operating. Due to continuous migration of people from across Pakistan to Islamabad and expansion of the capital city, it is about time that a new commercial area was developed to accommodate new businesses in central Islamabad, had said the prime minister.
