Islamabad: Prime Minister Imran Khan announced on Wednesday that the government wants to develop New Balakot City as a tourism area. “For this purpose, private investors in the tourism and hospitality sector are attracted through a public-private partnership,” said PM while chairing the New Balakot City development meeting as a tourist destination.
Take all necessary steps:
The Prime Minister has instructed the Federal government and provincial authorities to take all necessary steps to facilitate the holding of private investors in this regard. He also asked the Khyber Pakhtunkhwa government to take over all the work at ERRA and implement it as a tourist destination. He also directed the provincial government to exclude irrigated land for the project to ensure food security in the region.
Rs 19.5 billion development project for new Balakot City:
Earlier, the Prime Minister was briefing that a feasibility study of Rs 19.5 billion development project for the new Balakot City as a tourist destination for design-build-finance-operate and transfer (DBFOT) had been completed by NESPAK and KPMG.
He was informed that 63 percent of the 6,753 residential areas under the proposed project had been allocated to local stakeholders and would put up 2,480 residences and 575 commercial apartments outside 800 plots for auction to finance the project. The project, when completed, will not only reduce the pressure on existing heavy tourist destinations but will also generate more than Rs 7 billion.
The meeting was attended by:
Railway Minister Azam Khan Swati attended the meeting, KP Chief Minister Mahmood Khan, MNA Saleh Swati, KP Population Minister Syed Ahmed Hussain Shah, National Disaster Management Authority Chairman Lt Gen Akhtar Nawaz Satti, and senior officials involved.
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