Capital Development Authority (CDA) Chairman Imtiaz Inayat Elahi has said that organisations cannot be run by levying or increasing taxes thus the civic body in future has planned to launch development projects in collaboration with private sector to increase its revenues, says a press release issued here on Sunday. He stated this while addressing a ceremony in connection with the inauguration ceremony of Silver City, a commercial project in Sector G-11.

He said that the CDA would not follow the policy of selling plots to run its affairs and emphasised that private sector should come forward for the progress and development of the capital. He said that investors should invest in different development projects. He told the audience that the CDA has announced a big commercial project along Park Road, in which CDA will participate on the basis of loss and profit.

The Capital Development Authority chairman said that the Silver City will prove an excellent commercial project and announced that in Markaz G-11, along with construction of a mosque, a water filtration plant will also be installed.

Silver City Chief Executive Mian Aslam Farid informed the audience that renowned developers are part of this project and it would prove a transparent and unique project for the citizens of the federal capital. FPCCI Chief Mian Akram Farid, ICCI President Mahfooz Elahi, Chaudhry Asghar, Sardar Tanveer and some other important personalities of Islamabad were present on the occasion.

Source: The News