| Imran Khan says it took Pakistan three years to negotiate this new agreement

| Performs groundbreaking of Central Business District in Lahore | First-ever commercial district will help generate

six thousand billion rupees

LAHORE   -   Prime Minister Imran Khan on Friday performed groundbreaking of the Lahore’s Central Business District, the country’s first-ever commercial district and a project which is likely to generate massive economic activity of around 1300 billion rupees in the first phase.

Addressing the foundation-laying ceremony, the Prime Minister said this project will serve as a business hub that will help in wealth generation. Imran Khan was confident that this project will help generate six thousand billion rupees. In the first phase, he said the project will generate 1300 billion rupees and the federal government will get two hundred and fifty billion rupees in taxes.

The Prime Minister stressed that wealth generation projects are important to strengthen the economy enabling it to return the loans. Imran Khan regretted that the economy was mismanaged in the previous two governments.  He said, “We inherited difficult economic situation.” He however expressed satisfaction that the current account surplus remained surplus during the first six months of current fiscal year.  He said our textile exports are also witnessing increase and new industries are being set up in the country.

Referring to Naya Pakistan Housing Project, the Prime Minister said this will provide affordable houses to the salaried class and the labourers. The Prime Minister said Pakistan and Qatar have signed a new LNG import agreement for ten years. He said it took the government three years to negotiate this agreement which will help save three hundred million dollars annually.

Named as Central Business District, it will be a commercial hub aimed at generating activities in accordance with the market requirements and as per the unique dynamics of each district. 

The project will be completed in three phases over an area of 300 acres. The first phase will be developed over an area of 128 acres and commercial activity of around 1300 billion rupees will be generated.

A commercial district will be established in the first phase, a digital district will be introduced in the second phase while a residential district will be built in the third phase. The prime minister maintained that the project will cause a major take off in a short span of time and also transform Lahore into a modern city. The Prime Minister said the environment-friendly and urban generation project will be carried out on vertical principles with construction of high-rise buildings.

He regretted that earlier, the lack of planning resulted in haphazard expansion of big cities like Lahore and Karachi and the two cities became unmanageable with time. Imran Khan believed that vertical construction was the effective-most solution for the management of big cities in order to accommodate maximum population.

The prime minister said the Central Business District would ensure environment-friendly policies with its unique features of botanical gardens and green spaces. Imran Khan further stated that he was the biggest supporter of preservation and conservation of environment and always emphasized on considering the environmental aspect while carrying out any project.

He pointed out that the apathy of previous governments inflicted huge damage to the environmental conditions of urban cities in particular. Imran Khan said for the first time, the government introduced policies to provide low-cost housing and encouraged banks to offer mortgage facilities to facilitate common man.

Also, the Prime Minister lauded the efforts of Chief Minister Punjab for maintaining a faster pace of development projects in the province.

Separately, briefing the media about the launch of a commercial district in Lahore by the Prime Minister Imran Khan, Special Assistant to Chief Minister on Information Dr Firdous Ashiq Awan said the project will boost economic activities in the city and help the Punjab government get Rs250 billion in taxes.