Prime Minister of Imran Khan Niazi On Friday inaugurated the mega housing and commercial project of Lahore. An Authority has been established the “Ravi Riverfront Urban Development Authority” RRUDA Lahore.
The said Authority will implement the mega housing , commercial development project in Lahore.
Location of Ravi River City:
The Ravi River Housing and Commercial city will be developed on the outer side of River Ravi near Shahdara.
PM Address to Launching Ceremony:
The prime minister Mr. Imran Khan spoke at the inauguration ceremony of multi-trillion rupee development project. Punjab government will plan to develop a “most modern city” over an area of more than one 100,000 acres near Lahore.
Rs. 5 trillion to be invested in Ravi City project Lahore
The PM then went on to detail the government’s plans for the river. He said to save the river, extra water will be released into it and more barrages created. “And the sewerage that is coming into the river will be treated and clean water released back,” he said.
Imran Khan said with this, not only will the river’s depleted water levels be restored but the city’s water supply will no longer be threatened. “Lahore will be saved, the water problem solved, and a modern city will be created keeping in mind all environmental concerns,” he said, adding that six million trees will be planted in a demarcated “forest area”.
He said that the project will cost Rs5 trillion. “Of course it will be funded by private investment, not the government,” he clarified.
PMLN’s Government also Started this Project in 2013
The prime minister said that with the coronavirus, the country had been accorded reprieve to be able to inject capital from the informal economy into projects — previously unallowed due to obligations to international financial organisations.
“Now we have till December 31 to make use of funds from the informal economy as well.” He said that it was a splendid opportunity for overseas Pakistanis, who usually only invest in “plots”. “These nine million overseas Pakistanis have money equivalent to Pakistan’s GDP.”