Revenue-sharing basis: CDA approves digitization of parking sites in Islamabad

ISLAMABAD: The Capital Development Authority (CDA) Board, on Monday, approved the digitization of parking sites in Islamabad on a revenue-sharing basis.

The CDA administration is taking concrete and effective measures for car parking in the city of Islamabad, especially in the business centers in order to ensure the elimination of problems such as traffic jams in the city of Islamabad along with the promotion of the economy.

An agreement has been signed with M/S AJCL to digitize parking facilities in Islamabad on a revenue-sharing basis.

An important milestone has been achieved while implementing and this decision has also been ratified in the 9th meeting of the CDA Board on October 5, 2023.

According to the details, under this agreement, the installation of the latest parking equipment and the latest parking management system will be introduced in all car parking lots of Islamabad city.

Similarly, in this project, the implementation of automatic and smart parking system at all parking sites of Islamabad is also included.

It should be noted that in the bidding process, eight firms submitted technical and financial proposals till the last date of November 30, 2023, and the financial bids were opened in a transparent manner on January 9, 2024.

In which M/S AJCL was declared as the successful bidder with 75 percent revenue share. That is 25 percent of the revenue received for parking will be given to M/S AJCL while 75 percent of the revenue will be given to CDA.

With the modern and smart parking system, not only the residents of Islamabad will get rid of problems like traffic jams, but there are also strong possibilities of boosting the economy with this good initiative.

Copyright Business Recorder, 2024