[Lovely idea levin sahab.
But in my opinion you should start with a simple race track with all safety measures (including a proper inspection team to approve cars for racing), 1122, a small hospital
If it goes well, then you can expand it to add a drift track with proper curves, inclines, etc
And you can also collaborate with 4x4 clubs and they can make dirt tracks.
Best place is not in cities but somewhere in the outskirts easily accessible by all.
Any area on the motorway between lahore and Islamabad would be good. Actually u could get a huge land near the salt range. The land there doesn't have many crops so I guess it's not very fertile thus useless for many people and will be available at a good price.
So get a huge area, enough for a normal race track initially. With proper garages and all. There will be a car inspection team(like MOT inspection teams in UK) who will approve the cars to be raced first. Then there will be professional inspectors who will give a two hour lecture to the drivers. Then they will have a test run with them
Alot of people will come this way and u will generate a generous amount which can then be used to make a drift track, dirt track, even a car modifying garage. A hotel ( a good one like hotel one - hashmi group will be more than willing to make one in that area as it's a tourist attraction as well)
As for sponsors, guard oil, filter house, shell, etc will be more than willing to help.
Maybe this will be used as an official testing track by honda atlas and Toyota Indus motors so they too can pitch in.
There, I've planed it all. Now if it materializes I want a drive in all the cars that come to the track as commission 
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