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Tuesday May 21, 2024

Real estate trust laws to be made: Maryam

She stressed need for continuous effort to ensure timely completion of projects

By Ali Raza
May 08, 2024
Punjab CM Maryam Nawaz during a party meeting on December 18, 2023. — Facebook/Maryam Nawaz Sharif
Punjab CM Maryam Nawaz during a party meeting on December 18, 2023. — Facebook/Maryam Nawaz Sharif

LAHORE: Punjab Chief Minister Maryam Nawaz has announced the formulation of laws for the Real Estate Investment Trust. Additionally, deals are set to be finalised with Saudi, Chinese, and Korean companies for the IT City.

The chief minister chaired a five-hour-long meeting of the Planning and Development Board on Tuesday, emphasising the importance of avoiding delays in development projects.

The meeting focused on a detailed overview of 33 CM special projects and initiatives.

She stressed the need for continuous effort to ensure the timely completion of these projects, particularly those in the health sector.

She directed authorities to expedite the first phase of construction of the Nawaz Sharif Institute of Cancer Lahore, aiming for completion within one year. Additionally, she instructed for the opening of the OPD at the Nawaz Sharif Institute of Cardiology in Sargodha by December 2025.

During the meeting, it was revealed that seven mega projects in the health sector are nearing completion in the province, with an estimated cost of Rs145 billion. Furthermore, significant progress is expected in the construction and rehabilitation of rural and primary health centres by October and the revamping of major hospitals by June.

Regarding infrastructure development, authorities briefed the CM on plans to construct five motorways on important routes in Punjab, totaling Rs176 billion in cost. Projects such as the Multan-Vehari Road and the Faisalabad-Chiniot-Sargodha Road were reviewed.

The CM also directed the establishment of a single complaint number for all departments. Plans for the construction of a 204-bed Safe City Hostel in Lahore and the implementation of Smart Safe Cities in districts by January 2025 were discussed.

The meeting also covered environmental initiatives, with the planting of 60 lakh saplings in Punjab this year and plans for GIS monitoring of these plants. Additionally, a wildlife survey in Punjab is set to be conducted.

On the technological front, the CM was briefed on the commencement of the Global IT Certificate Programmeme in Punjab and the enrollment of 4,000 youths in IT courses under the CM Skill Development ram. Furthermore, progress on the Social Registry Survey under the Provincial Database Authority was reported.

In terms of emergency services and public transport, plans were outlined for the launch of air ambulance and motorway ambulance services. Moreover, efforts are underway to introduce 300 eco-friendly buses to Lahore and 330 to other cities, with considerations for local production of electric buses.

Maryam was also briefed on plans to establish daycare centres in government offices under the Punjab Daycare Fund Society.

In a separate meeting on Central Business District (CBD) projects, CM Maryam Nawaz Sharif directed the finalisation of deals with Chinese, South Korean, and Saudi Arabian companies for the construction of the IT City in Lahore.

The meeting also discussed establishing CBD Business Centres in eight cities in Punjab and proposed the establishment of a ‘City of Sports’ in Sialkot.

The session concluded with a decision to legislate for the establishment of a real estate investment trust in Punjab and a review of progress on the development of the Silicon Cluster in IT City Lahore.

Earlier briefings covered plans for the construction of the CBD Grand Central Station and the Grand Souk Lahore, along with eco-friendly blue roads on Main Boulevard.