ISLAMABAD: The Khyber Pakhtunkhwa government is building massive infrastructure projects as part of the KP Integrated Tourism Development Project, which is supported by the World Bank (KITE). (Reported by news source) Two of the major infrastructure projects are the 23-kilometer Thandiani Road and the 22-kilometer Mankyal Road, both of which are expected to cost Rs3.182 billion and Rs4.631 billion...
LAHORE: On Friday, The Sukkur-Hyderabad Motorway (M6) project, which will cost a total of Rs. 307 billion to develop, is now the largest Public-Private Partnership (PPP) project in the country thanks to the concession deal that The National Highway Authority (NHA) and contractor inked. (Reported by news source) According to the P3A Board-approved transaction structure, the Pakistani government will...
KARACHI: The 1,250 acres that Port Qasim Authority (PQA) gave to Textile City Ltd. in 2006 on a 50-year lease will soon be returned, according to Rear Admiral (r) Syed Hasan Nasir Shah, Chairman of PQA. (Reported by news source) The project was initially intended to be a designated industrial zone for textile exporters within PQA when it was first developed in 2004. It ran into some difficulties,...
KARACHI: As part of the Yellow Line BRT project, the Karachi administration will rebuild the Jam Sadiq flyover. In order to ensure efficient traffic flow, it also intends to construct a different flyover. (Reported by news source) This decision was made during a meeting on Tuesday between Murtaza Wahab, the administrator of Karachi, and other project participants. The Sindh government's...
LAHORE: On Wednesday, Chief Minister of Punjab Chaudhry Parvez Elahi made an announcement at the 10th meeting of the board of the Punjab Journalist Housing Foundation that the second phase of the Lahore Press Club (LPC) Housing Scheme would begin. (Reported by news source) The CM indicated that 500 kanals of land would be set aside in the Tehsil Cantt for the allocation of 5 Marla plots for the Ashiana...
Islamabad: On Tuesday, the Federal Cabinet's Economic Coordination Committee (ECC) approved the establishment of a $85 million Credit Guarantee Trust Fund, supported by the World Bank, through the Second Supplemental Trust Deed for low-income housing (Mera Pakistan Mera Ghar). (Reported by news source) To offer medium and long-term funding to primary mortgage lenders by raising from the capital debt...
LAHORE: On Tuesday, Lahore Commissioner Muhammad Amir Jan examined the remodelling and upgrading of M.M. Alam Road to improve traffic flow. (Reported by news source) It was examined during a meeting at the LDA office in Johar Town that was co-chaired by Commissioner Lahore and Director General Aamir Ahmed Khan. The Commissioner stated that an integrated plan was being executed to improve traffic...
ISLAMABAD: The Federal Government, as part of its Public Sector Development Program, has approved the usage of development funds of Rs. 241.26 billion out of a total allocation of Rs. 727 billion for a number of ongoing uplift projects. (Reported by news source) Out of the total authorized sum over the same period, Rs. 98.8 billion was spent on development projects in its entirety. The federal...
Islamabad: The Federal Government Employees Housing Authority (FGEHA) has approved Project Concept-1 (PC-I) for water supply lines for Sectors G-13 and G-14, news sources reported on November 29. Read: Housing Ministry shares update on FGEHA projects The above-mentioned sectors will be provided with a permanent water supply line from Shah Allah Ditta Reservoir to address the chronic water supply...
Lahore: The Securities and Exchange Commission of Pakistan (SECP) has registered a whopping 4,791 new real estate development and management firms during the current financial year (FY) 2021-22, news sources reported on November 29. The number is higher than in any preceding year in the previous decade, suggesting rapid expansion in the construction and real estate industries. The report also stated...