Lahore: In a review meeting of Ravi Urban Development Authority and Central Business District Authority, Prime Minister was told the construction project covering 15,000 acres of land will generate Rs 1,000 billion in economic activity during the ongoing year, according to a news story published today (May 21).
PM chaired this meeting, during which he was informed that the government expected to generate revenue worth PKR 25 billion from the Sapphire Bay project. The same project is expected to generated economic activity of PKR 150 billion.
The meeting attendees included Railways Minister Azam Khan Swati, Special Assistant to the PM Shabaz Gill, Lahore Development Authority Vice Chairman Sheikh Imran, Minister of State for Information and Broadcasting Farrukh Habib, and other senior officials while SACM Dr. Firdous Ashiq Awan, Finance Minister Shaukat Tarin, Punjab Chief Secretary Jawad Rafiq Malik among other officials attended through a video link.
Moreover, it was reported that additional projects of Ravi City would bring the economic activity of Rs 750 billion to Rs 900 billion and revenue of Rs 130 billion. The government plans to open campuses of major universities in Ravi City. A Swiss company is also hired to help in the development of agricultural farms in the project’s Zone 3.
For generating employment opportunities, Young Leadership Programme has been established under which 25,000 applications were received, the meeting members were told. The first batch of youngsters will start working by June this year. Also, the Central Business District Authority and Pakistan Railways will use empty land for launching projects.
The PM asked the authorities to complete the project on time since it will be generating job opportunities and economic activity. Apart from this, the project will provide international standard facilities to future residents and reduce the population load on Lahore.