ProPropertyNewsCEO PCBDA Aims to Generate Rs. 25 Trillion Revenue from State-Owned Land

CEO PCBDA Aims to Generate Rs. 25 Trillion Revenue from State-Owned Land

LAHORE: Imran Amin, Chief Executive Officer of Punjab Central Business District Development Authority (PCBDDA), has claimed that the authority can generate a massive revenue of Rs. 25 trillion.

He claimed that with the help of the public and private sectors, the government’s support to PCBDDA can help generate Rs. 4 trillion with the utilization of the state-owned land worth.

This land includes that of the Punjab Cooperative Board for Liquidation across the province.

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Amin further stated that the authority could present a viable plan for the use of this land for high-rises, shopping malls, residential areas, and other commercial, residential, agricultural, and industrial purposes.

According to him, the authority’s Lahore chapter alone can generate Rs. 1 trillion through the state-owned land in Gulberg and Walton.

PCBDDA has already started the development work by auctioning the state-owned plots for Rs. 56 billion.

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In addition, Amin said the ongoing development work worth Rs. 5 billion in Lahore includes 2 underpasses under construction from the existing Kalma Chowk underpass, remodeling of the Gulberg main boulevard, upgradation of the underground sewerage/drainage system, construction of the CBD main boulevard, parking plaza, walkways, etc.

Besides creating revenue of Rs. 56 billion, the authority has also deposited Rs. 500 million as taxes to the government to date.

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However, Amin added that they have only been given Rs. 100 million as seed money to run the authority’s affairs.

The CBD Lahore project would be the country’s first super high-rise infrastructure, which would generate and create more revenues and assets for the government, he said.

When questioned about the viability of such a huge business and financial plan through the utilization of land, he said that if India and Bangladesh could do it, then why not Pakistan.

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