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FAISALABAD, Aug 29 (APP):Faisalabad Development Authority (FDA) has decided to auction its various properties for income generation to meet its expenditures.
Director General (DG) FDA Muhammad Asif Chaudhry while addressing a meeting said that due to financial crunches, the FDA was facing great deal of difficulties to meet its expenditures. Therefore, it had decided to auction and lease out its various properties for income generation, he added.
He said that 925 Kanal area near Hockey Stadium Madina Town would be leased out in addition to auction of shops in Gulistan Plaza situated in Gulistan Colony No.2.
He directed the FDA officers to review all technical points of the auction and ensure proper advertisement for this auction so that the FDA could generate maximum revenue.
In later phase, the FDA could also lease out its various plots and shops situated in residential colonies owned by FDA in Millat Town and Ahmad Nagar in addition to auction of the plots situated in private housing schemes and designated for utility services, education, health and other facilities for residents of these colonies, he added.
Additional Director General FDA Abid Hussain Bhatti, Chief Engineer Mehar Ayub Gujjar, Director Finance Muhammad Shahab Aslam, Director Estate Management Junaid Hasan Manj and others were also present in the meeting.