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DigiNews.Live > Blog > Politics > Maryam is working on drafting new legislation regarding real estate trust laws.
Politics

Maryam is working on drafting new legislation regarding real estate trust laws.

Last updated: 8 May 2024 6:05 AM
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Maryam is working on drafting new legislation regarding real estate trust laws.
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Maryam is working on drafting new legislation regarding real estate trust laws.

Punjab Chief Minister Maryam Nawaz has announced the formulation of laws for the Real Estate Investment Trust. Additionally, deals are set to be finalised with Saudi, Chinese, and Korean companies for the IT City.

The chief minister presided over a five-hour meeting of the Planning and Development Board on Tuesday, underlining the significance of avoiding delays in development projects.

The meeting delved into a comprehensive review of 33 CM special projects and initiatives.

She emphasized the necessity of consistent efforts to ensure the timely completion of these projects, especially those in the health sector.

She instructed officials to accelerate the initial phase of construction of the Nawaz Sharif Institute of Cancer Lahore, with the goal of finishing within one year. Additionally, she mandated the opening of the OPD at the Nawaz Sharif Institute of Cardiology in Sargodha by December 2025.

It was disclosed during the meeting that seven major health sector projects in the province are nearing completion, with an estimated cost of Rs145 billion. Moreover, substantial progress is anticipated in the construction and rehabilitation of rural and primary health centers by October, as well as the renovation of major hospitals by June.

In terms of infrastructure development, officials briefed the CM on plans to build five motorways on crucial routes in Punjab, amounting to a total cost of Rs176 billion. Projects like the Multan-Vehari Road and the Faisalabad-Chiniot-Sargodha Road were assessed.

The Chief Minister also instructed the implementation of a unified complaint hotline for all government departments. Discussions were held regarding the construction of a 204-bed Safe City Hostel in Lahore and the rollout of Smart Safe Cities in various districts by January 2025.

The meeting also addressed environmental initiatives, including the target of planting 6 million saplings in Punjab this year and plans for GIS monitoring of these plants. Additionally, a wildlife survey in Punjab is scheduled to take place.

On the technological front, the Chief Minister was briefed on the initiation of the Global IT Certificate Programme in Punjab and the enrollment of 4,000 young individuals in IT courses through the CM Skill Development program. Furthermore, progress on the Social Registry Survey under the Provincial Database Authority was reported.

Regarding emergency services and public transportation, plans were outlined for the introduction of air ambulance and motorway ambulance services. Additionally, efforts are underway to introduce 300 eco-friendly buses in Lahore and 330 in other cities, with considerations for local production of electric buses.

Maryam also received a briefing on the establishment of daycare centers in government offices under the Punjab Daycare Fund Society.

In a separate meeting focused on Central Business District (CBD) projects, CM Maryam Nawaz Sharif instructed the finalization of agreements with Chinese, South Korean, and Saudi Arabian companies for the construction of the IT City in Lahore.

The discussion during the meeting also revolved around the idea of setting up CBD Business Centres in eight cities located in Punjab. Additionally, a proposal was put forward to establish a ‘City of Sports’ in Sialkot.

The session came to an end with a resolution to pass legislation for the establishment of a real estate investment trust in Punjab. Furthermore, the progress made on the development of the Silicon Cluster in IT City Lahore was reviewed.

In the earlier briefings, the plans for constructing the CBD Grand Central Station and the Grand Souk Lahore were presented. Moreover, the concept of eco-friendly blue roads on Main Boulevard was also discussed.

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TAGGED:Maryam Nawazpakistanreal estate trust lawsWellness

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