The Government has approved four development projects worth Rs265 billion. These projects include Sukkur-Hyderabad Motorway, Land acquisition for Lai Expressway, Rawalpindi Ring Road project, and Southern Punjab Poverty Alleviation program (SPPAP).
The revised project for the construction of the Sukkur-Hyderabad motorway has been approved on a build-operate-transfer (BOT) basis with an estimated cost of Rs 191.5 billion. Under BOT, both the public and private sectors will bear an equal funding share to make this project financially viable. This motorway is a vital missing link between Peshawar and Karachi.
Furthermore, the two projects including the Land acquisition for Lai Expressway and Rawalpindi Ring Road project and the main carriageway from Baanth to Thallian, cost about Rs48.75 billion. These projects will improve economic connectivity and road transport efficiency in the city and will also create sufficient livability, job creation, and other service or industrial facilities.
A revised Southern Punjab Poverty Alleviation Project (SPPAP) worth Rs25.243 billion has also been approved by the Government to increase the income of the rural population by enhancing their employment potential and boosting agricultural productivity and production.
Infrastructure plays an important role in the elevation of the country. Roads and inexpensive transport facilities increase faster transportation of goods and services, which are very important to boost the economy and uplift poverty by creating job opportunities for citizens. A recent boost in spending on public infrastructure is positively impacting the commercial property sector. People get attracted to areas where community facilities are being developed, and this generally results in higher house prices and increased potential for long-term capital growth.
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