6.2 billion released for Rawalpindi Ring Road
The Chairman of Rawalpindi Development Authority (RDA), Tariq Mehmood Murtaza said a sum of 6.2 billion will be released for the acquisition of land from the Rawalpindi Ring RoadProject(R3). Prime Minister Imran Khan along with Chief Minister Punjab Usman Buzdar would soon perform the ground-breaking of this project of vital importance.Rawalpindi Ring Road is not only a ring road, it is a multimillion-strength infrastructure project that will make the area innovative.The cost of the R3 project was estimated at Rs.50 billion and after the financial closure, its construction would be completed within 2-3 years. Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry (ICCI) appreciated the initiative of PTI government for starting the project. He said that the sitting President of ICCI should be included in the RDA Board to get the input of the private sector for the smooth execution of the project on PPP mode.
Mian Akram Farid, Chairman, Founder Group said that the government should set up new industrial estate near Islamabad International Airport. He said private sector should be provided the opportunity to invest in the industrial and commercial zones of the R3 project.
The goal of RRRECis to improve economic connectivity and road transport efficiency in the Islamabad-Rawalpindi Metropolitan Area through constructing a ring road and associated facilities. In central areas of Rawalpindi, the project would help reduce the congestion. In the twin cities, Islamabad and Rawalpindi areas, the project would also contribute to the growth of the city southwest. Rawalpindi Ring Road will certainly increase the overall charm of the real estate sector, specifically the M-2 motorway projects. Next to the Ring Road Project is the new Islamabad International Airport, so investment opportunities in Rawalpindi and Islamabad will increase.