Islamabad: Recently an important initiative decision was taken by the Capital Development Authority (CDA) Board on Monday as they gave the approval to digitize parking sites across Islamabad, embracing a revenue-sharing model.
The CDA administraton strives to solve the problem of parking in Islamabad, especially in busy business areas. They want to reduce traffic jams and help businesses grow.
A partnership agreement has been inked with a well-reputed private firm of Pakistan M/S AJCL to bring digital parking services to Islamabad. The agreement includes sharing the revenue generated from this initiative.
This decision is a big step forward in implementation of plan, having received unanimous approval during the 9th meeting of the CDA Board on October 5, 2023.
Under the terms of the agreement, modern parking equipment and cutting-edge management systems will be deployed across all parking lots within Islamabad. Furthermore, the project involves introducing automatic and smart parking systems at every parking location in the city.
It’s worth noting that during the bidding process, eight firms submitted technical and financial proposals by the deadline of November 30, 2023. The financial bids were transparently opened on January 9, 2024.
Following a rigorous evaluation, M/S AJCL emerged as the successful bidder, securing a 75 percent revenue share. This entails that 25 percent of parking revenue will go to M/S AJCL, while the remaining 75 percent will be directed to the CDA.
With the introduction of this modern and efficient parking system, not only will residents of Islamabad find relief from traffic snarls, but there’s also a promising prospect of bolstering the city’s economy through this commendable initiative.
This new and effective parking system will not only ease traffic congestion for Islamabad residents but also holds the potential to boost the city’s economy. It’s a promising step forward in improving the overall situation of the capital federal of pakistan
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