CDA owes consultant Rs 660mn

[Lahore_Real_Estate]

ZPI still far from opening

By Ikram Junaidi

ISLAMABAD:Zero Point Interchange (ZPI) project is likely to be delayed more because Capital Development Authority (CDA) is not in a position to pay Rs 660 million to the contractor. It is because of this reason that opening date of the interchange has been pushed back from August 14 to December 31 and even that does not seem feasible.

Sources said most CDA projects are stagnant due to financial crunch. Prime Minister Yousuf Raza Gilani was to open the project on August 14 but it was delayed to December 31 because the contractor was not paid and resultantly he slowed down the pace of work.

They said the CDA has to pay Rs 400 million to Maqbool Associates in addition to two installments of Rs 130 million each. They said financial crunch of the CDA is so worse that it looked unable to make the payments in the coming two months.

A CDA officer said even if the civic body makes the payments immediately, construction work cannot be completed by December 31. “Work on a loop near Pakistan Monument is yet to start and it will take another three to four months to complete,” he said. He said the CDA announced that the PM is opening the ZPI on August 14 this year but he may open it next year, given the pathetic situation that exists now.