ISLAMABAD: The Capital Development Authority (CDA) inked a deal with a private company on Monday to modernize car parking facilities in Islamabad, based on a revenue-sharing arrangement.
This agreement stems from a resolution passed at the 9th CDA Board meeting last October. Under the terms, cutting-edge parking infrastructure and management systems will be deployed across all parking lots in Islamabad.
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Additionally, the project encompasses the implementation of automatic and intelligent parking systems at various parking locations throughout the city.
It’s noteworthy that in the bidding phase, eight firms submitted technical and financial proposals in November of last year, followed by the opening of financial bids on January 9. Per the agreement, M/S AJCL will receive 25% of the parking revenue, while the CDA will retain 75%.
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An official from the CDA highlighted that with the introduction of this modern and efficient parking system, Islamabad residents will not only alleviate issues like traffic congestion but also stand to benefit the economy significantly.
(Islamabad51_Newsdesk)
