Private sector urged to make investment in tourism sector
LAHORE: There is huge potential in tourism industry and the Punjab government is ready to facilities all those who are interested to make investment in this sector. Secretary Planning and Development Punjab Imran Sikandar Bloch said this while speaking during an awareness seminar on 'Destination Investment and Management Plans (DIMPs)' here on Monday at a local hotel.
He highlighted the importance of tourism and Punjab's vision to establish effective and efficient visitor management systems and public infrastructure facilities through active participation of the private sector.
He said the Punjab Tourism for Economic Growth Project (PTEGP) will support the management and development of both existing and new tourist destinations across Punjab, including Bahawalpur, Rohtas Fort, Chakwal, and Kotli Sattian and Narr (Rawalpindi District). The project encompasses activities along the entire tourism value chain which will help the government in identifying opportunities for job creation and income generation.
It is pertinent to mention here that it is a five year project being implemented in collaboration with World Bank. The total funding of the project is USD 55 million with World Bank contribution of USD 50 million over five years under project investment lending mode.
The objective of the project is to increase contribution of the tourism and related sectors to local economic development by improving infrastructure services, strengthening institutional capacity and enhancing private sector participation in the sector.
The specific objectives are to support the government in drafting and implementing a tourism policy supported by comprehensive institutional reforms for effective implementation framework and to develop tourism sectors assets, institutions and infrastructure to increase tourist volume. Leverage private sector's potential to create new economic opportunities for job creation, revenue generation, innovation, entrepreneurship and production efficiency increase.
To promote an environment of pluralism and tolerance in the province through raised awareness of a varied culture and heritage. The Secretary P&D said that Development of Destination Investment and Management Plans (DIMPs) will help secure participation of investment from the private sector for better tourist facilities and protection of environment, and preservation of natural and heritage tourism assets.
The DIMPs will also translate relevant international practices into actionable items including, strengthening of the institutional set-up, and regulatory framework. Speaking on the occasion, Secretary Tourism Punjab Ahsan Butta said Punjab is home to numerous religious and heritage sites reflecting the diverse and pluralistic tradition of the Indus Valley.
He said in order to realize the true potential of the region, it is crucial that the private sector collaborates with the government to develop plans for sustainable destination management.
The various firms showed considerable interest in the activity and had several queries which were addressed during the event. The entire program was also streamed live for international audience. The expected completion date for these DIMPs is April 2021.
The PTEG is also going to launch installation of 800 reflective signboards at tourist destinations across Punjab in addition to strengthening the product offering of the province by implementing museum management plans in Lahore and Taxila, he added.
Copyright Business Recorder, 2020