ISLAMABAD: CDA to auction plots for generating economic activity

Capital Development Authority (CDA) will auction commercial plots in busiest commercial centres of the federal capital to attract business community and international business firms for generating economic activity.

CDA Chairman Engineer Farkhand Iqbal at the inaugural ceremony of a local restaurant here at F-8 Markaz said that the authority would take all possible measure to help boost economic activities in the capital city to make it a hub of commercial activities.

The officers of district administration and a large number of traders were also present on the occasion. The chairman said that Islamabad has unique significance in the region as all major foreign embassies and diplomatic missions are situated here. In this context, promotion of economic activities in the federal capital is the need of the hour.

He said that the authority is taking concrete measures to resolve basic civic problems especially provision of clean drinking water to the residents of the city on priority basis, adding that the authority is paying heed to consolidate its financial status to overcome the financial problems.

Measures would be taken to drastically decrease the non-development expenditure of the authority, the chairman said. Farkhand said that the authority will initiate public oriented projects to ensure basic civic amenities and the existing facilities would also be upgraded.

He said that Islamabad is comparatively peaceful city of the country where investment is more secure as compared to other parts of the country. CDA is working on a project to replace the existing traditional lights with LED lights, which would not only help to save the precious energy resource but also improve the efficiency of the system and would drastically reduce the burden on CDA budget.

He said that CDA is also contemplating to initiate waste to energy project for efficient treatment of municipal waste. However, solid measures would be taken for the upgradation of the small markets, removal of the encroachments, betterment of the sanitation services and promotion of economic activities, he said. The authority will also commence work on Mass Transit System, adding that parking plazas along the markets would be constructed to facilitate the commuters.