CBD PUNJAB LEADS CHARGE AS MARYAM NAWAZ GREENLIGHTS NAWAZ SHARIF IT CITY

Chief Minister Punjab, Maryam Nawaz Sharif, has granted approval for the long-awaited IT City project in Lahore, signalling a new era of progress and development for the province of Punjab. The responsibility for the implementation of this ambitious initiative has been entrusted to the Punjab Central Business District Development Authourity (PCBDDA), also known as Central Business District Punjab (CBD Punjab).

In a recent high-profile meeting, presided over by the visionary CM Punjab, saw the comprehensive presentation of the IT City project presented by CEO CBD Punjab, Imran Amin. The meeting was attended by Provincial Ministers Maryium Aurangzeb and Azma Bukhari, Chief Secretary Punjab Zahid Akhtar Zaman, COO CBD Punjab Brigadier (R) Mansoor Janjua, Secretary Housing Sajid Zafar Daal, Commissioner Lahore Muhammad Ali Randhawa, and other senior government officials, all demonstrating their commitment to this transformative endeavor under the inspiring leadership of Chief Minister Maryam Nawaz Sharif.

Spanning an impressive 853 Acres (6824 Kanals) near PKLI in Lahore, the project will be officially named Nawaz Sharif IT City. To kickstart this monumental venture, the Punjab government, under the astute guidance of Chief Minister Maryam Nawaz Sharif, has allocated a substantial 10 billion rupees as seed money, underscoring her unwavering dedication to fostering IT and growth in the region.

The project will be structured into four key segments, addressing diverse needs and opportunities: IT & Tech District, Education City, Film City, Commercial and Residential. The initial phase will witness the construction of the Celestia twin-tower IT building, projected to be completed within 12 months. The entire infrastructure of the project is anticipated to be finalized within three years, overcoming significant obstacles such as land transfer and survey issues, thanks to the diligent efforts of the Punjab Government under the dynamic leadership of Chief Minister Maryam Nawaz Sharif.

To ensure meticulous planning, Nespak, along with an international consultant, will be engaged for the master planning process. March 2024 marks a pivotal moment, as the land will be officially transferred to CBD Punjab from Knowledge Park Company, paving the way for IT tower construction starting in April 2024, a testament to Chief Minister Maryam Nawaz Sharif's visionary leadership.

Anticipated to generate nearly one million jobs, the project boasts diverse revenue models, including self-generation, joint ventures, and Real Estate Investment Trusts (REIT). With an estimated cost of 100 billion PKR, special economic zones will be a key feature, attracting both local and international investment, reflecting Chief Minister Maryam Nawaz Sharif's commitment to driving economic prosperity.

In a strategic move, the Government of Punjab has declared the project tax-free for 10 years, further incentivizing participation and investment. CBD Punjab is set to conduct a series of roadshows to raise awareness and attract investments to fuel the success of the Nawaz Sharif IT City, a testament to the progress and prosperity of Punjab and its people.

Comments

47% of Asia Pac businesses have no emissions plan in place despite the climate emergency, reveals new report from ACCA, IFAC and PwC

As world leaders gather for COP 28, ACCA (the Association of Chartered Accountants), IFAC (the International Federation of Accountants) and professional services firm PwC released a new report: The role of the CFO and finance function in the climate transition: driving value and sustainability, based on a survey of 1,000 senior finance professionals around the world. The research reveals 47% of respondents in the Asia Pacific region have yet to produce a plan for reducing their carbon emissions. Alarmingly, 69% of those respondents without an emissions plan say they currently have no intention of developing one. This compares with global figures of 46% of respondents who have yet to prepare an emissions plan and 70% of those say they currently have no intention of developing one. The report also says that that involving CFOs and finance teams in the emissions reduction planning is likely to accelerate progress. They should embrace this because, although they may not

Peshawar Zalmi Releases "Zalmi Raalal" Official Anthem Powered by TCL

TCL, Pakistan's No.1 LED TV Brand, in collaboration with Peshawar Zalmi, has released their most awaited anthem for PSL 8, " Zalmi Raalal ". Directed by the maestro Hassan Dawar himself, "Zalmi Raalal" is a star-studded, power-packed amalgamation of music, fashion, and sports, the three foremost passion points of Peshawar Zalmi. Produced by Naughty Boy, who has worked in the global music industry with the likes of Beyoncé, Wiz Khalifa, and Sam Smith, the music video features cricket's biggest superstars Darren Sammy and Babar Azam, as well as Pakistan's biggest celebrities Mahira Khan and Hamza Ali Abbasi. Peshawar Zalmi's official anthem for 2023, "Zalmi Raalal", is an ode to passion, a story entailing the beauty and power of the KP region and its people. The anthem has crossed one million views on all online platforms since its release, and the number is increasing fast. The star-studded and narrative-centric anthem feature

Economic confidence among finance professionals edges higher globally despite big fall in North America

The latest ACCA (the Association of Chartered Certified Accountants) and IMA ® (Institute of Management Accountants)  Global Economic Conditions Survey (GECS) suggests that confidence among accountants and finance professionals edged slightly higher in Q2 2024 and is just above its historical average. For chief financial officers (CFOs), all the key global indicators rose, with sharp gains evident in the New Orders and Capital Expenditure indices. There were some notable regional differences . Western Europe-based accountants reported another decent increase in confidence as the euro area and UK economies continue to stage recoveries. Even Asia Pacific saw a small rise off the back of a huge gain previously, and the New Orders Index increased strongly. The region is benefitting from improvements in the global economy, including in the manufacturing sector and the upward moving technology cycle. However, North America’s financial professio

News Herald

Search This Blog