PM Imran urges expatriates to make 'safe investments' in CBD, RUDA projects

Record revenue of Rs57.88 billion had been generated during two auctions of commercial plots in CBD, premier says

ISLAMABAD:

Prime Minister Imran Khan on Thursday said that there were massive opportunities available for overseas Pakistanis to make safe investments in Central Business District (CBD) and Ravi Urban Development Authority (RUDA) projects.

The premier's statement came while he was chairing a meeting to review progress on the said projects.

"Record revenue of Rs57.88 billion had been generated during two auctions of commercial plots in CBD," he said.

Appreciating the efforts of the CBD team, the prime minister said the government had targeted dead capital lying un-utilized throughout the country and had converted it into sustainable revenue-generating initiatives.

"Unplanned and unmanaged urban sprawl would affect food security where green areas were being converted to housing and commercial areas," he said. "The government was adopting an environment-friendly approach for new urban projects to cater for residential and commercial needs as well as preserving green areas."

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The prime minister directed the Punjab government to take legal action against illegal housing societies selling land in flood plains thereby risking the lives and investments of the general public.

Earlier, the forum was briefed about the progress of CBD and RUDA projects, including Lahore’s first Downtown auctions, captive power plant construction, Chahar Bagh, Rakh Jhok National Park, RUDA Technology Park, 10,000 apartments district dedicated for overseas Pakistanis, wastewater treatment plant and other amenities.