Rail­ways earns Rs 12,770.02 mln in ten years from land leas­ing

Daily Messenger - - Biz -

IS­LAM­ABAD: Min­istry of Rail­ways has earned around Rs

12770.02 mil­lion rev­enue by leas­ing out its across the coun­try land for var­i­ous pur­poses in­clud­ing short term ba­sis in the last ten years.

Pak­istan Rail­ways has leased and li­censed out around 15025.44 acres land to gen­er­ate ex­tra rev­enue to the govern­ment de­part­ments for 21 to 33 years as per the pol­icy, an of­fi­cial in the Min­istry of Rail­ways told APP.

Giv­ing prov­ince wise de­tails of the land, he said that in Khy­ber Pakhtunkhwa 656.98 acres were leased out, 12667.30 acres in Pun­jab, and

1560.13 acres in Sindh,

137.25 acres in Balochis­tan and 3.79 acres in Pak­istan Rail­ways net- work.

He said the as­sess­ment of com­mer­cial site was con­ducted through ap­proved ac­cred­ited eval­u­a­tors of Pak­istan Bank­ing As­so­ci­a­tion/State Bank of Pak­istan for fix­ing a bench­mark and then ad­ver­tised for leas­ing in lead­ing news­pa­pers.

For agri­cul­tural pur­poses, he said that through com­pet­i­tive bid­ding by fix­ing ‘ousat bay’ rate as re­serve price for open auc­tion for a lease term of three years for cul­tivable land and ex­tend­able for an­other three years for bar­ren land.

He said that for pre­mium shops through com­pet­i­tive bid­ding by fix­ing the re­serve price of pre­mium and monthly rent on the ba­sis of mar­ket rate of the lo­cal­ity for a lease term of ten years.

Stack­ing pur­poses, the of­fi­cial said that through bid­ding for a year and ex­tend­able for an­other year. Nurs­ery pur­poses, he said that through bid­ding for a term of three years, ex­tend­able for an­other two years.

He said that for park­ing stands land is leased out on yearly ba­sis for al­ready de­vel­oped stands. For new park­ing sites, lease term is three years, ex­tend­able for an­other two years.

The of­fi­cial said that Pak­istan Rail­ways was earned Rs 1636.71 mil­lion from Khy­ber Pakhtunkhwa, Rs 7299.39 mil­lion from Pun­jab, Rs

2834.19 mil­lion from Sindh, Rs 486.29 mil­lion from Balochis­tan and Rs

513.44 mil­lion from rail­way net­work.

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