Lahore: On November 30, news sources said that the Lahore Development Authority (LDA) has decided to sell its assets in different parts of the city at auction to raise money for development projects.
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In this case, LDA Director General Amir Ali Ahmad has asked the Housing Directorate to give him a report within five days. The directorate will give a full report on the assets that are available and how much they are expected to sell for. This will help figure out how much money the auction could bring in. A group of officials has been put together by the Housing Directorate to work on the preliminary auction plan. It came out that an auction of LDA assets has been suggested to help the authority get out of its financial hole so it can pay for big projects in the city. The government told the LDA to take care of its own resources and pay for any projects it wants to start.
The government has started the “Naya Lahore” project, which involves building a number of roads and underpasses.