The Public-Private Partnership (PPP) Steering Committee has accorded approval to the landmark project of Lahore Ring Road (Southern Loop-III) stretching eight kilometers from Adda Plot to Maraka on Multan Road in public private partnership mode. The road will be constructed within a period of one year with the help of private partner. The decision was taken in a meeting of the steering committee at planning and development (P&D) complex under the Chairmanship of Makhdoom Hashim Jawan Bakht, Punjab Minister for Finance.
The Minister while speaking on the occasion said that this project will stimulate private investment and reduce traffic congestion in the city. The Chairman P&D Board remarked that the road would not only complete the link up to Multan Road but will also serve as a bypass for traffic coming from Gujranwala on GT Road leading to Multan. The Commissioner apprised the committee about the success of previous public private partnership project of Ring Road (SL-I&II).
The Member (PPP), P&D Board, gave a presentation on various agenda items highlighting their salient features and appraisal points. The PPP steering committee also approved PDF funding for development of feasibility studies and project documentation for the projects of Model Cattle Market in Lahore, Affordable Housing project in Chiniot, Dualization of Mianwali Talagang Chakwal Road, Dualization of Jhang Shorkot Kabirwala Road and Dualization of Okara Satghara Syedwala Jaranwala Chak Jhumra Expressway.