CDA to bear cost of Islamabad Expressway extension - Printable Version +- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com) +-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1) +--- Forum: LahoreRealEstate.Com Prices Updates (/forumdisplay.php?fid=10) +--- Thread: CDA to bear cost of Islamabad Expressway extension (/showthread.php?tid=16698) |
CDA to bear cost of Islamabad Expressway extension - Salman - 02-27-2015 05:08 PM SLAMABAD: Ignoring suggestions for entering into a joint venture, the Capital Development Authority (CDA) has principally decided to build the Islamabad Expressway from Zero Point to Rawat on its own resources. However, the CDA is at odd with the federal government over the launching time of the project. The federal government has suggested that work on the whole expressway be initiated simultaneously. The CDA, however, wants it to be done in phases. The decision in this regard was taken at a meeting of the CDA Development Working Party (CDA-DWP). The CDA-DWP consists of officials from the finance ministry, Planning Commission and the CDA. The meeting discussed a report filed by the consultant to make the expressway signal free. The initial report by the consultant said the total cost of the project would be around Rs24 billion. The expressway will be signal free from Zero Point to Rawat and will be completed in two phases The meeting agreed that the CDA would go ahead with the project after the chairman announced that the civic body had the resources to build the signal-free highway without any funding from the federal government. However, the CDA said the project should be executed in two phases: Phase –I from Zero Point to Koral (airport) Chowk and Phase II from Koral Chowk to Rawat. The estimated cost of Phase –I is Rs8 billion and that of Phase –II Rs16 billion. However, the idea was disputed by the officials of the federal government on the ground that projects get delayed when they are executed in phases. The CDA might stop the work after the completion of Phase–I due to the shortage of funds. Besides, the CDA also said the project would be launched only after the metro bus service became operational. “Otherwise the vehicular traffic in the city will be further choked,” the chairman CDA told the meeting, adding Phase II should be launched after the completion of Phase II. On the other hand, the officials of the finance ministry and the Planning Commission said work on the whole expressway should be launched simultaneously so that the project may be completed within 8-10 months. Meanwhile, Shahid Sohail, the CDA member engineering, told Dawn that starting both the phases at the same time would add to the financial burden of the CDA. “The CDA has long-term plans over the funding of the project,” he added. “The authority can finance Phase –I with Rs8 billion whereas there will be commercial auctions of various sites mainly after the Airport Chowk which will easily fetch a huge amount to finance Phase–II as well as other projects.” The meeting also discussed an option to make the Kashmir Highway from 7th Avenue to Golra Mor signal free. The estimated cost of the project is Rs2 billion which includes establishing three underpass each at Aabpara, G-11 /I-11 and one at G-13. But the CDA was of the view that the work on the Kashmir Highway should be launched only after the Phase –I of Islamabad Expressway is completed. Published in Dawn, February 27th, 2015 On a mobile phone? Get the Dawn Mobile App: Apple Store |