Prime Minister Imran Khan Sunday launched the multi-billion rupee commercial project of Blue Area to auc
tion the land and spend the r
evenue for rehabilitation of Islamabad and constru
ction of low-cost housing units.
“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,” the prime minister tweeted while also sharing an image of being briefed on the project on site by Chairman CDA and Chairman Naya Pakistan Housing and Development Authority (NAPHDA).
The open au
ction of the land, located opposite F-9 Park, has been scheduled from April 14 to 16. The prime minister was informed that the receipts from the commercial au
ction would be utilised primarily for rehabilitation of Islamabad, provision of services and improvement of the envir
onment. A chunk of the r
evenue would also be utilised for constru
ction of low-cost housing, particularly for provision of respectable accommoda
tion to residents of approved slums through NAPHDA. This initiative, coupled with several incentives in the constru
ction sector, including ease of deposit in advance tax on pro rata basis, will encourage investment, resul
t 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 mega project like this would also be launched in Lahore and Karachi soon.
