Leh Expressway in doldrums for want of Rs49b

No investor willing to come forth, sources lament

RAWALPINDI:

The disinterest of investors in pumping money into the Leh Expressway project under public-private partnership (PPP) and lack of funds on the part of the government has stymied its progress yet again. It has become an uphill task to find a firm ready to invest Rs49 billion on the project, sources told The Express Tribune on Sunday.

The Punjab government had even offered 119 kanals of land divided in two portions of 84 kanals in Dhok Najju and 35 kanals in Gawalmandi for prospective investors willing to invest Rs49 billion under PPP mode. However, no firm has expressed interest so far.

Meanwhile, the Rawalpindi Development Authority (RDA) is also facing an acute shortage of Rs30 billion required for land acquisition of the project. Therefore, the RDA has decided to change the status of residential properties along the project’s route into commercial ones under urban regeneration and charge fees for the change.

Well-placed sources informed that RDA has not made substantial progress in this regard and the land acquisition process has been stopped after the marking.

Leh Expressway project is estimated to be completed at a cost of Rs79 billion. Its foundation was laid in 2006 during Pervez Musharraf’s regime but the next two governments in Punjab put the project on the backburner and, over the years, its estimated cost has increased.

The incumbent government decided to revive Leh Expressway project after a decade. The expressway will stretch from Sawan Bridge in Rawalpindi to Islamabad Expressway through IJP Principal Road. Leh Expressway is an important project as it will help put an end to traffic congestion in the garrison city. The flood channel will also resolve the issue of flooding in the city during the monsoon.

Sources told The Express Tribune the major hindrance in the project’s delay was the non-availability of required funds.

 

Published in The Express Tribune, April 19^th, 2021.