ISLAMABAD: Pakistan Railways has leased out 1556 acres land in Punjab, Sindh and Khyber Pakhtunkhwa through fair and transparent method during last two years to earn more revenue for the organization.
Pakistan Railways has collected an amount of Rs. 366.58 million from the leases so far, an official in the Ministry of Railways told APP.
He said the land was leased out though advertisement in the newspapers to ensure transparency and though auction process.
Valuation of land by the Assessment Committee and Independent valuators, evaluation of bids and execution of agreements with the successful bidders, he added.
The official said that total 1198 acres land leaded out in Punjab in which 1139 acres is agricultural land and 58 is commercial, in Khyber Pakhtunkhwa 74 acres land leased out in which 69 is agricultural land and 4 is commercial and in Sindh 276 acres is agricultural land and 6 acres is commercial land leased out.
He said that Pakistan Railways retrieved 57.60 Kanals commercial and residential land in Karachi from illegal occupants during the last one year.