CDA plans auctioning plots to overcome crisis

[Salman]

CDA plans auctioning plots to overcome crisis

ISLAMABAD - In a bid to generate economic activity in Islamabad and overcome the financial crisis, the Capital Development Authority (CDA) has decided to auction commercial plots in the busiest commercial centres of the federal capital by attracting business community and international business firms.“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,” said CDA Chairman Farkhand Iqbal, while speaking at an inaugural ceremony of a local restaurant in F/8. Giving a new hope to the residents of the federal capital who are confronting a number of issues, Farkhand said the authority was taking concrete measures to resolve basic civic problems, especially provision of clean drinking water on priority basis, adding that the CDA was focussing on consolidating the financial status to overcome the crisis.
He expressed his determination to slash the non-development expenditure of the authority and said the CDA would take all possible steps to boost economic activities, adding that Islamabad would be made hub of commercial activities. Farkhand Iqbal said besides upgrading the existing facilities, the authority would initiate people-oriented projects to ensure provision of basic civic amenities. He said solid measures would be taken for the up-gradation of small markets, removal of the encroachments, betterment of the sanitation services and promotion of economic activities. He said the CDA was also planning to commence work on Mass Transit System, adding that parking plazas along the markets would be constructed to facilitate the commuters.