Lahore: The Punjab government is working on a policy to change the land status of agricultural land falling under the Ravi Riverfront Urban Development (RUDA) Project to industrial land, news sources reported on August 3.
Under the new policy, industrialists and landowners would be allowed to change the classification of their property from green to industrial by paying a conversion fee. In this regard, the Punjab Board of Revenue (BoR) is working on a formula to make it simpler to convert the current 7,300 acres of agricultural land to industrial land. The new regulation will benefit 800 industrial enterprises operating on demarcated land. Moreover, following the implementation of the new policy, RUDA will establish an industrial zone in collaboration with the business community.
It is worth noting that the RUDA is one of the country’s largest and first planned development real estate projects, funded by the federal and provincial governments. The proposal calls for developing the country’s first smart city, high-rise skyscrapers, and an environmentally friendly industrial zone.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
