PM Asks KP Government to Take Over New Balakot City Project
According to news reports, Imran Khan has asked the Khyber Pakhtunkhwa (KP) government to assume responsibility for the New Balakot City project and develop it as a tourist destination. Previously, the project was executed by Earthquake Reconstruction and Rehabilitation Authority (ERRA).
Premier made the decision while presiding over a meeting on the construction of New Balakot City in order to build it as a new tourist resort in the hilly region. Prime Minister Khan stated that reputable private investors are being recruited under the public-private partnership financing model to encourage tourism and construct new tourist destinations.
In addition, Prime Minister Khan directed that irrigated land be excluded from the project to protect food security. The feasibility assessment for a PKR 19.5 billion proposal to build New Balakot City as a tourist hub was presented to him previously. National Engineering Services Pakistan and KPMG were responsible for conducting the study.
The administration has indicated that 63% of the residential plots under 6,753 in the proposed project are earmarked for local affected parties. To raise funds for project implementation, the remaining 2,480 residential plots, 800 apartments, and 575 commercial plots will be auctioned.
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