Saifullah Sani
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ISLAMABAD: The Punjab government has annulled a Memorandum of Understanding (MoU) signed by its predecessor with a foreign builder to construct some 300 residences for bureaucrats on a small part of state land in Lahore and instead decided to allot this tract to seven top ranking universities, free of cost.
The land measuring 700 acres, which was to be partially used for officials residences and partly given to the builder free of cost, is estimated to have the prevailing market value of Rs28 billion, Rs5 million per kanal as per the going rate in the area, a senior official told The News.
He said top line educational institutions like the Institute of Business Administration Karachi, Fast, Nust, Ghulam Ishaq Khan University, Aga Khan University etc. will be allocated 100 acres each for their campuses. The area has been designated as knowledge city.
The land is located in Rakh Dera Chall, adjacent to Defence Phase Five and Six and the Ring Road. The official said that some real estate tycoons and land developers have also been approaching the Punjab government to get this land for their projects.
By taking the final decision to make a better use of this consolidated piece for educational purposes, all the rosy plans of such elements have been nailed, he said. He said that these wealthy people were coming out with different proposals with the prime objective of pocketing huge dividends.
Nowhere in the heart of Lahore city, he said, is such huge compact piece of land available at an impressive location. One official proposal was that a theme park should be created on this land, which was also rejected.
The official said that under the cancelled MoU, the foreign constructor was to build nearly 300 residences for senior government servants and was to take the remaining land free of cost for its own housing and commercial projects.
He said that the issue of proper utilization of land was lingering since long. Some time back, a committee headed by the provincial chief secretary was formed, which suggested the use of the land for the knowledge city.
The Punjab cabinet approved the proposal last week. The official said that in many countries, prestigious universities were given land grants by the governments to promote establishment of esteemed institutions in different areas.
He said that 100 acres of land earmarked to each university would take care of its requirements. The congestion and parking problem would also not arise. The official said that if the housing project had been allowed to be executed, only one-third of the 700 acres would have been used for it while the builder would have taken the rest of the piece free of cost.
Punjab gives Baboos
The land measuring 700 acres, which was to be partially used for officials residences and partly given to the builder free of cost, is estimated to have the prevailing market value of Rs28 billion, Rs5 million per kanal as per the going rate in the area, a senior official told The News.
He said top line educational institutions like the Institute of Business Administration Karachi, Fast, Nust, Ghulam Ishaq Khan University, Aga Khan University etc. will be allocated 100 acres each for their campuses. The area has been designated as knowledge city.
The land is located in Rakh Dera Chall, adjacent to Defence Phase Five and Six and the Ring Road. The official said that some real estate tycoons and land developers have also been approaching the Punjab government to get this land for their projects.
By taking the final decision to make a better use of this consolidated piece for educational purposes, all the rosy plans of such elements have been nailed, he said. He said that these wealthy people were coming out with different proposals with the prime objective of pocketing huge dividends.
Nowhere in the heart of Lahore city, he said, is such huge compact piece of land available at an impressive location. One official proposal was that a theme park should be created on this land, which was also rejected.
The official said that under the cancelled MoU, the foreign constructor was to build nearly 300 residences for senior government servants and was to take the remaining land free of cost for its own housing and commercial projects.
He said that the issue of proper utilization of land was lingering since long. Some time back, a committee headed by the provincial chief secretary was formed, which suggested the use of the land for the knowledge city.
The Punjab cabinet approved the proposal last week. The official said that in many countries, prestigious universities were given land grants by the governments to promote establishment of esteemed institutions in different areas.
He said that 100 acres of land earmarked to each university would take care of its requirements. The congestion and parking problem would also not arise. The official said that if the housing project had been allowed to be executed, only one-third of the 700 acres would have been used for it while the builder would have taken the rest of the piece free of cost.
Punjab gives Baboos
