Pak-Qatar LNG deal to save $300 million annually: PM.

LAHORE -- Prime Minister Imran Khan on Friday performed groundbreaking of the Lahore's Central Business District, the country's first-ever commercial district and a project which is likely to generate massive economic activity of around 1300 billion rupees in the first phase.

Addressing the foundation-laying ceremony, the Prime Minister said this project will serve as a business hub that will help in wealth generation. Imran Khan was confident that this project will help generate six thousand billion rupees. In the first phase, he said the project will generate 1300 billion rupees and the federal government will get two hundred and fifty billion rupees in taxes.

The Prime Minister stressed that wealth generation projects are important to strengthen the economy enabling it to return the loans. Imran Khan regretted that the economy was mismanaged in the previous two governments. He said, 'We inherited difficult economic situation.' He however expressed satisfaction that the current account surplus remained surplus during the first six months of current fiscal year. He said our textile exports are also witnessing increase and new industries are being set up in the country.

Referring to Naya Pakistan Housing Project, the Prime Minister said this will provide affordable houses to the salaried class and the labourers. The Prime Minister said Pakistan and Qatar have signed a new LNG import agreement for ten years. He said it took the government three years to negotiate this agreement which will help save three hundred million dollars annually.

Named as Central Business District, it will be a commercial hub aimed at generating activities in accordance with the market requirements and as per the unique dynamics of each district.

The project will be completed in three phases over an area of 300 acres. The first phase will be developed over an area of 128 acres and commercial activity of around 1300 billion rupees will be generated.

A commercial district will be established in the first phase, a digital district will be introduced in the second phase while a residential district will be built in the third phase...