Punjab Govt. Approves Rs100bn Innovation City Project in Lahore

Lahore: According to the latest news information, the Punjab government has approved the PKR 100 billion Innovation City Project in Lahore, which aims to create one million possible employment opportunities. 

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The Punjab Central Business District Development Authority (PCBDA) has resurrected and renamed this previously dormant project as the "Nawaz Sharif Innovation City." Maryam Nawaz Sharif, the chief minister of Punjab, has set aside PKR 10 billion for first funding.

Four sectors make up the project: IT City, Education City, Film City, and commercial/residential zones. There are also proposals to create special economic zones that will provide tax breaks. Experts are of the opinion that prompt execution of the project is crucial for success, pointing out that it has the ability to strengthen the provincial economy and draw in outside capital.