Sapphire-Bay to generate Rs25b revenue, PM told

ISLAMABAD: Prime Minister Imran Khan was briefed on progress on the Sapphire-Bay project under the Ravi City on Thursday.

He was informed that the revenue, to be received from the 2,000-acre project, had been estimated at Rs25 billion. Besides, the project would generate a total of Rs150 billion in economic activities.

Two more Ravi City sub-projects including Zones 4, 5, 7 and the island would soon be available for investment. The revenue received by the government from these was estimated to be Rs130 billion in total and together it will lead to economic activities of Rs750-900 billion.

Thus, the PM was informed that the work started on 15,000 acres of Ravi City project would result in a total economic activity of Rs1,000 billion by December this year, which would provide ample employment opportunities in the country.

He was presiding over a review meeting on Ravi Urban Development Authority and Central Business District. The meeting was attended by Federal Minister for Railways Azam Khan Swati, Minister of State Farrukh Habib, Special Assistant Dr Shahbaz Gill, Chairman New Pakistan Housing Authority Lt-Gen (retd) Anwar Ali Haider, Vice Chairman LDA Sheikh Muhammad Imran and senior officials concerned.

Also present were Finance Minister Shaukat Tareen, Advisor to Punjab Chief Minister Dr Salman Shah, Special Assistant to Punjab Chief Minister Dr Firdous Ashiq Awan, Chief Secretary Punjab Jawad Rafique Malik, Babar Hayat Tarar, Member Board of Revenue, CEO Ravi Urban Development Authority Imran Amin. Chairman Central Business District Irfan Elahi and other officers participated through video-link.

The meeting was informed that recently contacts have been made with all major universities of the country for opening campuses at the Ravi City, to which positive response has started pouring in. In addition, a memorandum of understanding has been signed with the Swiss company Leung-Stone Green-Tech, which will assist in development of international standard farms in Zone 3 with modern agricultural technology. This step has been taken keeping in view the growing food needs of the country.

The meeting was informed that a young leadership programme was launched to ensure youth participation in the Ravi City project in which 25,000 applications have been received so far. From June this year, the first batch of young people would start regular work.

With reference to the Central Business District, the PM was informed that the land had been identified in the first sub-phase in which local and foreign investors were showing keen interest. In addition, the Railways and the Central Business District Authority would jointly launch construction projects on the railway lands to utilise the unused railway land.

Emphasising timely completion of the projects, the PM said Ravi City and Central Business District would boost economic activities in the country, which would create employment opportunities, reduce the population pressure on Lahore and citizens would be provided with the international standard accommodation.

He stressed importance of formulating master plans for major cities at the earliest, saying that the pace at which unorganised and unplanned urban boundaries were increasing was not only detrimental to the environment but there were also serious risks of food security and administrative problems.

Chairing weekly meeting of the National Coordination Committee for Housing, Construction and Development here, the PM directed Punjab chief secretary to formulate green areas protection plan and implementation strategy immediately as a national emergency.

He entrusted the finance minister with the responsibility of formulating and presenting a comprehensive plan for imparting technical and professional skills to the individuals.

It was decided to change the existing laws and regulations regarding the use of agricultural, residential and other lands for the protection of green areas so that agricultural lands and green areas could be protected.

The meeting was given briefing regarding the Green Building Code, prepared by the Ministry of Environment. It was also decided to implement Green Building Code as a pilot project through New Pakistan Housing Projects.