ISLAMABAD - Launching the Islamabad Blue Area multi-billion rupees commercial project on Sunday, Prime Minister Imran Khan said the project will not only provide jobs but will also attract investments from overseas Pakistanis. 

The prime minister, who visited the proposed site of Blue Area opposite F-9 Park, was briefed that the open auction of the land has been scheduled from April 14 to 16. The prime minister was apprised that the receipts from the

commercial auction, to be held next month, will be utilized primarily for rehabilitation of the federal capital, provision of services and improvement of environment.

A portion will also be utilized for construction of low cost housing, particularly for provision of dignified accommodation to residents of approved katchi abadis through the Naya Pakistan Housing and Development Authority.

This initiative coupled with several incentives to the construction sector, including ease of deposit in Advance Tax on pro rata basis, will encourage investment, result in job creation and speed up economic activity in the country.

Particular instructions have been given to preserve trees in this venture.

Later in a tweet, the Prime Minister said one mega project will be launched in Lahore and one in Karachi soon.