“Lahore: Maryam Nawaz, the Chief Minister of Punjab, announced on Tuesday the establishment of Pakistan’s first IT city in Lahore.”
She announced it during the third cabinet meeting on Tuesday. Provincial ministers, the chief secretary, and the IGP were also present at the meeting.
The chief minister also approved the budget for the year 2023-24, including any extra funds needed.
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Maryam Nawaz Sharif, the Chief Minister of Punjab, has given the green light to an ambitious IT City project in Lahore. The name of the project will be Nawaz Sharif IT City; It will cover an area of 853 acres and be divided into four main segments: IT & Tech District, Film City, Education City, Commercial City, and Residential City.
The Punjab government has set aside 10 billion PKR to start the project. The Punjab Central Business District Development Authority (PCBDDA) will be in charge of making the initiative happen.
The project aims to create almost one million jobs. It will make money through doing things independently, working together with others, and Real Estate Investment Trusts (REIT). Special economic zones, which are a big part of the plan, will cost about 100 billion PKR. They will bring in investments from both local and international sources.
In addition, the Punjab Government said that for 10 years, nobody has to pay taxes for this project. This makes it even more attractive for people to join in and invest.
The Punjab CBD wants to conduct some roadshows to let people know about the project and get them interested in investing. This will help make the Nawaz Sharif IT City do well.
Additionally, the chief minister approved a project to give 20,000 electric bikes to students with good installment plans; they plan to start giving out the bikes in May.
The chief minister said, ‘Using electric bikes is helpful to reduce pollution, but currently, they’re not very convenient because batteries can be stolen, and they don’t have a long range. So, we’ll lower the initial payment to Rs25,000 and make the monthly payments less than Rs5,000.”
She also stressed the importance of testing out the air ambulance project to assist patients in faraway areas of the province.
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