Islamabad Blue Area project to attract investment: PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan visited the proposed site of Blue Area opposite to F-9 Park in Islamabad today.

According to the details, 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.

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.

The sources said that 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.

Prime Minister Imran Khan says launching the Islamabad Blue Area multi-billion rupees commercial project will not only provide jobs but will also attract investment from overseas Pakistanis.

Launching the Islamabad Blue Area multi billion rupees commercial project today. This will not only provide jobs but will also attract investment from overseas Pakistanis. One mega project to be launched in Lahore and one in Karachi soon. pic.twitter.com/x1i7KlJ0hs

— Imran Khan (@ImranKhanPTI) March 1, 2020

In a tweet, he said one mega project will be launched in Lahore and one in Karachi soon.

Govt to built commercial city in Islamabad

Earlier on Feb 24, Prime Minister Imran Khan approved the plan to establish new commercial city in the capital.

According to the details, The government has allocated a 170 canal land in front of F-9 Park in the capital city for the project. The commercial city project will be developed on international standards and the government would be able to generate initial revenue of upto Rs 30 billion from it.

Some of the revenue generated from the project would be utilized for the Naya Pakistan Housing project aimed at building low cost housing units for poor and low income groups.