ISLAMABAD, Feb 2: Punjab Chief Minister Chaudhry Pervaiz Elahi here on Thursday said the World Bank would provide Rs600 million for the conservation and restoration of Lahore’s historical and cultural heritage.

Presiding over a meeting, he said an autonomous institution would be set up under the planning and development department chairman, Salman Ghani, which would give a practical shape to the project, says a press release issued by the Punjab government.

The chief minister said Lahore’s cultural heritage was of international significance and its conservation would further increase its attraction for foreign tourists and local citizens.

He said financial resources would be made available to the citizens of the walled city for promotion of their traditional skills and handicrafts. He said in order to improve the traffic system, encroachments would be removed and the roads would be widened.

He said new traffic signals would be installed in the city besides improving lighting arrangements.

He said a programme for improving water supply and sanitation system of the city had also been initiated. He said steps were being taken to maintain the architectural beauty, control environmental pollution and streamline traffic system in the city.

These steps, he added, would also improve the standard of living in the city.

The chief minister said restoration of historical and cultural heritage of Lahore would result in promotion of tourism as well as foreign investment. He said the city was an important cultural asset and its uplift would leave a positive impact on the overall economy of the province.