While passing through a rough patch, where Losses has increased, Pakistan Railways remained successful in generating roughly Rs214 million during last year through short and long term lease of railway land in various part of the country to make the department a profit earning entity.
As per the statement from Railways, An area of 172 acres of land has been leased out for various purposes included premium shops, stacking, agriculture and parking stands.
Railways Department had licensed land through competitive bidding by fixing the minimum rate as the reserve price for open auction.
The official statement reads that Pakistan Railways has leased its cultivated land for the period of four years and barren land for five years. Furthermore, the department has licensed the premium shops through competitive bidding by fixing the reserve price of premium and monthly rent on the basis of the market rate of the locality.
Pertinent to note is that as per the decision of the Supreme Court in 2020, Pakistan Railways has now reduced the period for lease land only for five years.
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