LAHORE, April 16: The Punjab government has started preparations for availing the recent World Bank and Asian Development Bank offer of investment in mega projects like power plants and development of infrastructure.

A meeting was held in this connection here on Wednesday, presided over by Chief Minister Chaudhry Pervaiz Elahi and attended among others by Minister for Industries Ajmal Cheema and Advisor Jehangir Tareen.

The banks recently offered huge “unconditional” project-based soft loans to the provincial government.

Sources said the meeting identified various mega projects like hydroelectric plants on rivers and major canals, development and renovation of tourist resorts, construction of roads and bridges and development of infrastructure for the health and education sectors. Projects like the creation of a Disney Land near Murree and wildlife and safari parks in major cities of the province, improvement in livestock production methods and regulated marketing of milk were also identified at the meeting, they said.

Sources said Advisor Tareen gave a presentation on how to attract foreign investment and utilize the soft loans being offered to the province.

They said that as per the directions of the chief minister, secretaries to the provincial departments of health, education, communication and works, irrigation and livestock were preparing schemes for utilizing the expected loans.

Sources said the provincial budget for the year 2003-04 would cover all these projects.

Meanwhile, the chief minister said a special package would be announced to expedite foreign investment in various sectors. He said favourable conditions existed in the province for foreign as well as local investment, and infrastructure was being developed to facilitate the investors.

He said only investment could counter the problems of unemployment and economic depression. The government was also trying to promote industrial activity through public-private partnership, he added.

The chief minister said the administrative machinery would be reformed and bottlenecks removed to ensure trouble-free investment.