LAHORE, Oct 11: The City District Government has decided to exempt the parking plazas from commercialization fee and waive extra-height charges in the event of construction of basement within 15 months of approval of the site plan.

District Nazim Mian Amer Mahmood disclosed this while talking to the Union Council Nazims and councillors here on Saturday.

He said the CDG had decided to waive commercialization charges on the parking plazas to encourage the private sector to enter the business.

A policy for the construction of parking plazas was being formulated and would be announced soon, he said. Negotiations were also underway with some foreign companies for the installation of parking meters at selected spots. The motorists would be required to insert coin of Rs5 in the meter to avail the parking facility.

He said that extra-height charges recovered at the rate of Rs60 per square on more than 38 feet high buildings had already been reduced by 50 per cent to encourage the construction of multi-storeyed buildings.

It had now been decided to waive the charges completely in case of completion of 38 feet high structure within 30 months of approval of the site plan, he added.