Govt won’t seek loan for Ravi Riverfront project

SAPM says there is no involvement of loan in the entire project.

ISLAMABAD:

Special Assistant to the Prime Minister (SAPM) for Political Communication Dr Shahbaz Gill made it clear on Thursday that there was no plan of taking any loan for carrying out the landmark Ravi Riverfront Urban Development Project in Lahore.

“You have heard of many projects in the past like Orange Line, Metro, Balloki, Bhikki and others, but all of them involved loans. In this entire project, there is no involvement of loan,” said the SAPM in a news conference.

Briefing about the progress of project, the SAPM said a consortium of 13 reputable companies won the bidding for developing its ‘Sapphire bay’ being built under the first phase. The agreement with the consortium in that regard would be signed next week, he added.

Read Locals prioritised for jobs in Ravi Riverfront project

Dr Gill told that massive forestation, seven treatment plants and three barrages would be built under the first phase planned over 2,000 acres. Citing the example of Islamabad, he said the development of the federal capital was started on only 80,000 acres of land, adding this project would have 29 sectors and span over 102,000 acres with a major focus on mitigating environmental issues, water shortage and unplanned development in the area.

It would have state-of-the-art educational institutions, healthcare facilities, innovation and technology centres, sports ground, he said while regretting the less focus of previous governments on such initiatives, which were being taken across the globe for development purposes.

Published in The Express Tribune, July 2^nd, 2021.