Prime Minister Imran Khan has approved ‘New Blue Area’ project in Federal Capital, Islamabad. The decision is taken in order to promote the commercial activities in Islamabad. Moreover, sources said, federal government wants passive income source for the construction of Naya Pakistan Housing Society. Thus, it has ultimately decided to expand the current commercial zone in Islamabad by the name of New Blue Area.
The decision was taken in a meeting held on February 24, 2020. This meeting was held in the Prime Minister Imran Khan’s Office.
Salient features of New Blue Area
As per news sources, the project will comprised of almost 170 Kanals. The location of New Blue Area is in front of Sector F-9 Park. Overall, this project costs RS. 30 Billion. This commercial space size is doubled. Further, the government said it would provide international standard amenities to the individuals.
Experts regard this decisions as a positive step towards the economies exhilaration. As it will generate more employment opportunities specifically in the construction field.
In addition, the authorities have decided to utilize the revenue earned from this project in Naya Pakistan Housing Society. It aims to present low cost residential scheme for low income strata of population.