Lahore: Prime Minister Imran Khan performed the groundbreaking of Central Business District in Lahore on Friday.
Addressing a ceremony on the occasion, 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.
He said that it was time to stop Lahore from expanding horizontally.”The first phase [of the Central Business District] project, the federal government will earn Rs250bn from taxes,” he said.
The prime minister said when the Walton airport is de-notified as per the project’s plan, tall buildings can be constructed in Gulberg and Ferozepur road.
“These areas can then become the economic hub for Lahore,” said the prime minister, lamenting that Lahore’s horizontal expansion had caused a mirage of problems of the city.
“The entire city’s sewerage is going in River Ravi,” he said. “This sewerage is going down the river. A lot of people drink water from the rivers,” he said, adding that even the water table of Lahore was declining.
PM Imran Khan said that as per estimates, Pakistan can generate Rs6,000bn in revenue from these commercial projects.
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.