Civic facilities: Agreement signed to hand over 250 parking lots

Lahore Parking Company will get 45.4 per cent of the revenue.

LAHORE:

A joint venture between Saudi firm Advanced Global Communication Networks (AGCN) and German firm Green Park signed an agreement with the Lahore Parking Company on Thursday to take over 250 parking lots for seven years.

The joint venture will take over 66 parking lots in three months in the first phase and the rest in 18 months. LPC HR Manager Fasiuddin said the company had one month to prepare a project plan including time lines details of the equipment to be used. He said the company would get another eight to 12 weeks to import the equipment.

He said the LPC would get 45.4 per cent estimated at Rs 9.3 billion. The payment would be made on a weekly basis. Under an agreement, 75 per cent of the LPC’s share will be paid to the district government on a quarterly basis.  He said the LPC was working on by-laws to address illegal parking issues.

AGCN Country Head Nouman Saeed told The Express Tribune that they will bring state of the art technology to the parking sites. He said this would address traffic congestion issues created by many parking entrances. He said the technology would also help cap revenue leakages. He said the company would present their plan to local traders very soon. He said they would highlight the efficiency of automated parking sites. He said manual ticketing would be abolished. He said a command and control room would be established to monitor all parking sites. He said cameras would be installed and guards deployed to protect vehicles. For parking sites with proper entrances and exits, users would be provided with theft insurance. An emergency response team would also be deputed.

Published in The Express Tribune, February 7^th, 2014.