ISLAMABAD: The Capital Development Authority (CDA) on Monday signed an agreement with a private company, M/S AJCL, to digitise parking facility in Islamabad on a revenue-sharing basis.

“An important milestone has been achieved today, and this decision has also been ratified in the 9th meeting of the CDA Board on October 5, 2023,” read a press release issued by CDA on Monday. It said that this step will help CDA eliminate problems like traffic jams in the city of Islamabad, along with promoting the economy.

“Under this agreement, the installation of the latest parking equipment and the latest parking management system will be introduced in all car parking lots in Islamabad city. Similarly, in this project, the implementation of automatic and smart parking system at all parking sites of Islamabad is also included,” it said, adding that in the bidding process, eight firms submitted technical and financial proposals until the last date of November 30, 2023, and the financial bids were opened in a transparent manner on January 9, 2024.

M/S AJCL was declared the successful bidder with a 75% revenue share. That is, 25% of the revenue received for parking will be given to M/S AJCL, while 75% of the revenue will be given to CDA.

Published in Dawn, February 27th, 2024