| LAHORE: Punjab Central Business District Development Authority (PCBDDA) Chief Executive Officer Imran Naeem claims that he, with the help of the public and private sectors, can generate huge revenues amounting to Rs25 trillion if the government empowers the PCBDDA to utilise state-owned land worth Rs4 trillion.
The land includes that of the Punjab Cooperative Board for Liquidation across the province.
“The authority can submit a viable plan to generate such huge revenues by utilizing the land for highrises, shopping malls, residential and other purposes -- commercial, residential, agriculture and industrial,” Mr Ameen told Dawn on Tuesday.The authority’s Lahore chapter can generate Rs1 trillion through the state land in Gulberg and Walton. He said the PCBDDA has started development work by auctioning the state-owned plots for Rs56 billion.
According to him, the PCBDDA’s ongoing development work worth Rs5 billion in Lahore includes the ongoing construction of two underpasses originating from the existing Kalma Chowk underpass, remodelling of the Gulberg main boulevard, upgradation of the underground sewerage/drainage system, construction of the CBD main boulevard, parking plaza, walkways, etc.
He said besides creating Rs56 billion in revenue, the authority also deposited Rs500 million as taxes to the government to date.
“We have been given only Rs100 million as seed money to run the affairs of the authority,” he said, adding that the CBD Lahore project would be the country’s first super high-rise infrastructure that will government generate and create more revenues and assets.
Asked how such a huge business and financial plan through the utilization of the land, he said when India and Bangladesh can do it, then why Pakistan not?
Published in Dawn, March 16th, 2023 |
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