LAHORE: The Parks and Horticulture Authority (PHA) has offered underpasses and overhead pedestrian bridges for commercial advertisements to boost its revenue, Director General Muhammad Tahir Wattoo disclosed it on Tuesday.
Wattoo said the department will offer 11 underpasses and an equal number of overhead bridges, mainly along the canal but not limited to it, for static advertisements. The PHA expects to earn slightly over Rs85 million per annum from this initiative.
These underpasses are located on both sides of the canal, from Dharampura to Doctors’ Hospital, Gulab Devi Hospital and the Lal Shahbaz Qalandar underpass at Firdous Market.
The PHA took control of security, landscaping, and operations at these underpasses through an agreement with the Traffic Engineering and Transport Planning Agency (TEPA) in February. This agreement also gives the PHA the right to earn revenue from advertising at the underpasses.
Similarly, the department will also offer pedestrian bridges on Canal Road, Syed Maratib Ali Road, Punjab University Gate 4, Jinnah Hospital, Wafaqi Colony, Johar Town H Block, Aiwan-i-Quaid-i-Azam, and Nazaria-i-Pakistan Trust for advertisements.
According to Wattoo, this initiative is part of a broader plan to increase the PHA’s own-source revenue. The PHA had generated a record Rs2.5 billion in revenue in the previous fiscal year. By tapping into commercial advertising opportunities on pedestrian bridges and other infrastructure, the PHA aims to create a steady and reliable stream of income, he added. This approach is particularly important as we seek to reduce its reliance on external funding and ensure long-term financial stability, he maintained.
Copyright Business Recorder, 2024
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