ISLAMABAD: In order to provide impetus to the economy, PM Imran Khan has launched a new program to extend the Blue Area Islamabad by auctioning the plots in front of F-9 Park Islamabad. These plots are to be purchased by local as well as international businesses to set up their infrastructures in Islamabad.
As a result of this decision, a large number of job opportunities are expected to emerge. There is no doubt that the world economy has been hit by the Covid19 crisis in an unprecedented manner. The trade and commerce industries have faced obstruction in the overall supply and shipping process.
Tackling the Effects of Covid19 on the Economy
Similarly, the real estate sectors of the world have also been affected by rates becoming stagnant and market slowing down. The case of Pakistan is even worse as multiple businesses have been negatively affected, and measures such as downsizing have caused an increase in the unemployment rates. In order to tackle this the new policies of PM Imran Khan, including the extension of Blue Area, is a welcome opportunity to spur growth in the economy.
Imran Khan’s Decision to Revive the Real Estate Industry
The first and foremost decision taken by PM Imran Khan in this Covid19 crisis was to provide incentives and tax cuts to the real estate sector. The vision was very simple: to provide the real estate sector with an opportunity to grow and provide the people with job opportunities.
As a result of this, the housing societies such as Blue World City and Capital Smart City have started to develop real estate master plans for growth and development. Consequently, job opportunities have started occurring and providing support to this COVID-hit economy.
Blue Area as the Business Hub of Islamabad
The vision of Islamabad for Blue Area Islamabad is to turn this into the next business hub of Pakistan. Currently, it is known to be the business hub of Islamabad, with a number of businesses operating 24/7. Because of this Blue Area Extension, the overall rates of real estate are going to rise, and a number of new building, skyscrapers, and other infrastructures are predicted to be developed.
In a few years’ time, a large number of investors are going to reshape this entire Blue Area strip into a dynamic and vibrant business hub. The overall aim of PM Khan is to turn this into one of Asia’s biggest source of business and revenue, providing the economy with a massive uplift and support.