Islamabad, (TLTP): Prime Minister Imran Khan Sunday launched the multibillion rupee commercial project of Blue Area Islamabad to auction the land and spend the revenue for rehabilitation of Islamabad.
“Launching the Islamabad Blue Area multibillion rupees commercial project today. This will not only provide jobs but will also attract investment from overseas Pakistanis,” the prime minister tweeted while also sharing an image of being briefed about the project on site by Chairman CDA and Chairman Naya Pakistan Housing and Development Authority (NAPHDA).
Prime Minister Imran Khan visited the proposed site of Blue Area opposite to F-9 Park in Islamabad.
The Prime Minister was briefed that the receipts from the commercial auction, to be held next month, will be utilized primarily for rehabilitation of the federal capital, provision of services and improvement of environment. The open auction of the land, located opposite F-9 Park, has been scheduled from April 14 to 16.
A portion will also be utilized for construction of low-cost housing, particularly for provision of dignified accommodation to residents of approved slums through Naya Pakistan Housing and Development Authority.
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.
Particular instructions were given that trees should be preserved in this venture.
The prime minister said one each such mega project would also be launched in Lahore and Karachi soon.