Prime Minister Imran Khan presided over a meeting on Wednesday (20 October) to discuss the development of New Balakot City as a tourist destination. “The government intends to create new tourist resorts in mountainous areas to promote tourism in the country,” he said, adding that reputable private investors in the tourism and hospitality sectors are being sought under the Public-Private Partnership (PPP) model for this reason.
The Prime Minister directed the federal and provincial governments to take all necessary steps to make private investors’ lives as easy as possible.
Furthermore, he also told the KP government to take over the project from ERRA and turn it into a tourism destination. To secure food security in the region, the Prime Minister also requested that irrigated land be excluded from the project.
NESPAK and KPMG had previously informed the Prime Minister that a feasibility study on Rs. 19.5 billion projects for the development of New Balakot City as a tourist hub using the Design-Build-Finance-Operate-Transfer (DBFOT) paradigm had been completed.
Out of the total 6,753 residential plots in the proposed project, 63 percent will be allocated to impacted residents, while the remaining 2,480 residential and 575 commercial plots, as well as 800 flats, would be auctioned to raise funds for the project’s execution.
The Prime Minister was advised that the development of New Balakot City was essentially the responsibility of the province administration of KP, not the federal government. The government of KP has already purchased land for the project. The tourist resort, which will be built through a Public-Private Partnership (PPP), will comprise a youth hostel, theme park, camping area, and a 3-star hotel.
When completed, the project would not only relieve pressure on already overburdened tourist spots, but it will also generate more than Rs. 7 billion in money for the government because of planned revenue sharing.
The meeting was attended by:
- Railways Minister Azam Khan Swati.
- Chief Minister KP Mahmood Khan.
- MNA Saleh Swati.
- KP Population Minister Syed Ahmed Hussain Shah.
- Chairman NDMA Lt Gen Akhtar Nawaz Satti.
- Senior officers concerned.
