Lahore: Prime Minister (PM) Imran Khan on Friday laid the foundation stone for the ambitious Central Business District (CBD) project at the Walton Airport site, expressing hope that this ‘out of the box’ initiative will create wealth to overcome fiscal and current account deficit – according to news sources.
The prime minister asserted that the project will amass the wealth that is very much needed to pay-off foreign loans accumulated in the past. He said that it was high time to boost the country’s income and decrease expense to overcome these deficits.
Additionally, PM Khan said that the Walton Airport will soon be de-notified and an economic hub will be created in its stead, which will include the construction of several high-rises along both Gulberg Main Boulevard and Ferozepur Road. He said that in the first phase PKR 1,300 billion will be generated from the Lahore Central Business District that will lead to PKR 250 billion in tax revenue for the government.
Addressing the ceremony, Chief Minister Sardar Usman Buzdar stated that Lahore Central Business District would be developed on 300 acres of land within three years. The first phase will involve the construction of 128 acres and will be followed by the development of a residential and digital district.
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