PM Imran approves plan to establish new commercial city in Islamabad
Last updated on: 24 February,2020 08:30 pm
The commercial city project would expedite economic activities in the federal capital
ISLAMABAD (Dunya News) – Prime Minister Imran Khan on Monday approved a plan to develop a commercial city named ‘New Blue Area’ within the limits of federal capital Islamabad.
The government has allocated a 170 canal land in front of F-9 Park in the capital city for the project. The commercial city project will be developed on international standards and the government would be able to generate initial revenue of upto Rs30 billion from it.
Some of the revenue generated from the project would be utilized for the Naya Pakistan Housing project aimed at building low cost housing units for poor and low income groups.
The commercial city project would not only expedite economic activities in the federal capital but would also help generate employment and promote construction sector.
Basic facilities provided to the residents of Islamabad would also witness an improvement under the project. The project would also saw doubling of the commercial space within the city.