FAISALABAD: New Lahore City developed by Ravi Urban Development Authority (RUDA) is a national project and business community from Faisalabad must also play its role for its colonisation in addition to exploiting its business potential, said Fardan Khalid Director Investor’s Relations RUDA.
Giving a presentation on RUDA in Faisalabad Chamber of Commerce & Industry (FCCI), he said that historically all major cities and civilizations emerged and developed along rivers from where water supply was ensured.
He mentioned the civilization of Mohenjo-daro and Harappa and said that these civilizations were 20 times bigger than Lahore but were destroyed as river Indus changed its path.
He said that under the Sindh Tas agreement, we had to brickline the river Ravi immediately after this agreement but we failed to do so. He said that water from river Chenab is now channelized to river Ravi through BRB canal but the quantity of this water is quite insufficient for a river.
He said that if we failed to understand the gravity of emerging water scarcity, it would become a rare commodity and we would have to purchase water tankers to meet our immediate needs.
He said that the new city would be developed 47 kilometers along river Ravi and its water would be repeatedly recycled to fulfill our needs. He further said that this city would sprawl over one lac and two thousand acres of land and it would have different areas dedicated for government officials, knowledge, tourism, entertainment, sports, commercial, downtown and industrial areas. Comparing this city with Islamabad, he said that it would be bigger than Islamabad as it has an area of only 86,000 acres.
He said that New Lahore City would be developed on most modern and scientific lines in order to offer international level facilities to its inhabitants. He said that RUDA has so far received investment offers of 8 billion dollars and we are taking measures to materialize it. He further said that on completion in 2050, it would be the world’s largest river front city.
“In order to save its natural ecosystem, 13% green area would be reserved whereas at present Lahore has only 1% green area”, he said and added that during the first phase of this project 2,000 acres of land has been leased out to Arif Habib Group for real estate development. He said that Arif Habib in collaboration with other 18 groups would make investment in RUDA. He said that 10,000 acres have been allocated for the industrial area which would be adjacent to the eastern bypass of Lahore ring road. “It would be 13 kilometers away from the airport and 10 kilometers from the railway station”, he said and added that it would also have easy access to the GT road.
About the price of land, he said that initially it has been evaluated at Rs. 70-80 million per acre, however, final price would be determined in consultation with the international evaluators. He assured to remain in touch with FCCI to provide latest information about the development in this mega project. He also invited FCCI office bearers to visit the RUDA office immediately after Eid.
Earlier President FCCI Atif Munir Sheikh introduced Faisalabad and FCCI and said that this city was contributing 45% share in total textile exports of the country, however, this share in total export of Pakistan is estimated around 22-24%.
He further said that this city was also catering 80% of the needs of domestic clothes and clothing. He said that Faisalabad has world class universities like UAF and NTU in addition to other institutions. He also appreciated the role of FCCI in starting direct international flights for Faisalabad and said that Chief Minister Punjab is expected to perform the ground breaking ceremony for a state-of-the-art Expo Centre during next month.
“The Punjab government has allocated 52 acres of land for this project”, he said and added that FIEDMC is developing M3 and Allama Iqbal industrial estates and land in these projects are available at only Rs 10 million per acre. He further said that FIEDMC would also provide all basic amenities in these estates including sewerage, gas, electricity, boundary wall and security etc.
“The facility of ten-year tax holiday has also been offered to the industrialists intending to set up their units in these estates”, he said and added that the cost of land would also be recovered in easy instalments during a period of 3-5 years. He further said that the units completed before given time would get an extra facility of 5% discount.
Copyright Business Recorder, 2022
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