Lahore (Agencies): Prime Minister Imran Khan on Friday laid the foundation stone of Central Business District in Lahore.
Addressing the groundbreaking ceremony, the premier said this project will serve as a business hub that will help in wealth generation.
He said that the project would touch the trading volume of Rs 6,000 billion with its first phase of Commercial and Business Hub to generate activities worth Rs 1,300 billion.
“With huge tenders involved, this project will witness a major take off in short span of time and also transform Lahore into a modern city,” he said.
PM Imran said that the environment-friendly and urban generation project will be carried out on vertical principles with construction of high-rise buildings.
He regretted that earlier, lack of planning resulted in haphazard expansion of big cities like Lahore and Karachi that became unmanageable with time.
The premier noted that vertical construction was the most effective solution for the management of big cities in order to accommodate maximum population.
“Central Business District would ensure environment-friendly policies with its unique features of botanical gardens and green spaces,” PM Imran said.
The prime minister said that the apathy of previous governments inflicted huge damage to the environmental conditions of urban cities in particular.
Imran Khan said for the first time, the government introduced policies to provide low-cost housing and encouraged banks to offer mortgage facility to facilitate common man.
Referring to Naya Pakistan Housing Project, the premier said this will provide affordable houses to the salaried class and the labourers.
PM Imran mentioned that the government inherited several problems including crippling economy, however took effective steps to ensure financial stability.
“For six consecutive months, Pakistan’s current account remained in surplus,” Khan said while acknowledging the contribution of overseas Pakistanis in this regard.
The prime minister said Pakistan and Qatar have signed a new LNG import agreement for ten years.
He said it took the government three years to negotiate this agreement which will help save $300 million annually.
"And in 10 years' time, Pakistan will save $3bn," he said.