Prime Minister Imran Khan presided over the meeting regarding the development of New Balakot City as a tourist destination. The government is building new tourist destinations in the mountains to boost tourism in the country. To achieve this end, prominent private investors in the tourism and hospitality sectors are being attracted to the public-private partnership mode. The Prime Minister directed the concerned federal and provincial authorities to take all necessary steps to provide full facilities to private investors in this regard. He directed the KP government to complete the project from IRA as a tourist destination. The Prime Minister further directed that cultivable lands should not be included in the plan to ensure food security in the region.
Earlier, the Prime Minister was informed that Feasibility Study of Rs. 19.5 billion project to develop New Balakot City as a tourist hub on Design-Build-Finance-Operate and Transfer (DBFOT) mode has been completed by NESPAK and KPMG. Under the proposed project, 63% of the total 6753 residential plots are allotted for allotment to local victims, while the remaining 2480 residential and 575 commercial plots besides 800 apartments will be auctioned to raise funds for the implementation of the project.
The Prime Minister was informed that the development of New Balakot City was primarily the responsibility of the KPK provincial government rather than the federal government. The KP government has already acquired land for this purpose. The project, to be completed under a public-private partnership (PPP), will include a youth hostel, a theme park, a camping ground and a three-star hotel. Upon completion, the project will not only reduce the pressure on existing tourist destinations, but will also generate more than Rs. 7 billion as a result of sharing expected revenue with the government.