ISLAMABAD: The Capital Development Authority (CDA) Development Working Party (DWP) has approved five projects worth a total of Rs18 billion to develop new sectors.
“We not only have Rs10bn in the CDA’s accounts, but the overall potential of the unsold plots in different sectors is of Rs56bn, so it will be a win-win situation if we make Rs56bn by spending just Rs18bn,” CDA Chairman Amer Ali Ahmed told Dawn.
He said the E-12 sector alone has the potential to generate Rs14bn from unsold plots.
E-12 sector alone has the potential to generate Rs14bn from unsold plots, says CDA chairman
“We just have to develop the sector to restore investors’ trust and we will get the maximum benefit by selling the plots. Moreover, Rs1bn is available in the account of sector I-15. We are in a position to self-finance and will be able to generate a huge sum of money after developing some sectors,” he said.
Mr Ahmed said the CDA’s primary responsibility is developing sectors but the authority has unfortunately become involved in other matters, leading to residential issues and a failure to generate a proper income.
According to a statement issued by the CDA, five projects received final approval during the 45th meeting of the CDA-DWP.
Under instructions from the competent forum, new PC-Is were presented and approved, and a total of 23,827 housing units will be added in the capital as a consequence of this decision, it said.
The CDA-DWP approved PC-Is amounting to Rs18bn for the development of new sectors. Tenders in some of these cases were already in process, and for the rest shall be started immediately.
A PC-I amounting to Rs6.6bn for the development of E-12 was approved by the party. A Rs3.1bn PC-I for sector I-14 was also approved, along with a Rs2.6bn PC-I for the development of sector I-11.
The sectors’ complete infrastructure, including service and major roads, drainage networks, sanitation and sewerage systems, water lines, culverts, service road bridges, underground electrification networks including grid stations, overhead and underground water reservoirs and underground services will be developed under these projects.
The meeting also approved a PC-I of Rs343.8 million to develop infrastructure works in G-5. Under this project, roads, carpeting, pavements, drainage, water supply and the sewerage system will be improved and existing road infrastructure in the sector will be upgraded.
The meeting was presided over by the CDA chairman and attended by the members engineering and planning and design, as well as officers from the Planning Commission and the Ministry of Interior.
Published in Dawn, October 4th, 2019