Railways accumulated Rs 905 million from leased land

455

ISLAMABAD, Dec 13 (APP):Pakistan Railways has accumulated around Rs 905 million revenue from the leased land for 33 years from 2003-2018 to different departments and parties across the country.
Pakistan Railways had set a target to earn around Rs 11 billion revenue after the completion of the leased period in its six divisions including Peshawar, Rawalpindi, Lahore, Sukkur, Quetta, and Karachi, a document said.
However, the department has allocated 33 points on lease out of which 10 places have been given to oil and gas companies, eight were handed over to a defence institution and four points given to the other department.
According to details, in Karachi Division, the organization had leased out its land in Hyderabad and eight different locations in Karachi which would generate a total of Rs 4864.62 million whereas the Pakistan Railways has so far received Rs 292.13 million from the process.
In Rawalpindi Division, the land has been leased out in Sargodha, Islamabad and Sara-e-Alamgir on GT Road, Jhelum and Bhalwal which would generate Rs 1049.05 million and the department has so far earned Rs 154.96 million.
In Lahore Division, the land has been leased out in Sialkot, Lahore, Kasur, Faisalabad, Bahawalnagar, and Shah Ismail which would earn revenue of Rs 3122.73 million after completion of the lease period, adding Pakistan Railways has so far earned Rs 30.45 million, the document said.
The organization has leased out land in Multan, Muzaffargarh and Bahawalnagar, under Multan Division, which would generate Rs 555 million and Pakistan Railways has so far earned Rs 54 million from the lease process.
In Sukkur Division, Pakistan Railways has leased out land at Sukkur, Shikarpur, Rahim Yar Khan and Sadiqabad which would generate a total of Rs 535.36 million and the organisation has so far earned Rs 384.88 million.
In Quetta Division, Pakistan Railways has rented out its land for fuel stations in Quetta city which would generate a total of Rs 153 million and the railways has so far earned Rs 33.34 million, the document said.