ISLAMABAD: Ministry of Railways has earned around Rs12,770 million revenue by leasing out its land across the country in the last ten years.
In order to generate extra revenue, Pakistan Railways had leased and licensed out around 15,025.44 acres of land to the government departments for 21 to 33 years as per the policy, an official of the Ministry of Railways revealed on Friday.
Giving province-wise details of the land, he said that 656.98 acres of land was leased out in Khyber Pakhtunkhwa, Punjab 12,667.30 acres, Sindh 1560.13 acres, Balochistan 137.25 acres, while 3.79 acres of land was leased out in Pakistan Railways Network.
Explaining the leasing process, he said the assessment of commercial sites was conducted through accredited evaluators of Pakistan Banking Association/State Bank of Pakistan and then advertised for leasing in leading newspapers.
The official said that Pakistan Railways earned Rs1,636.71 million from Khyber Pakhtunkhwa, Rs7,299.39 million from Punjab, Rs2,834.19 million from Sindh, Rs486.29 million from Balochistan and Rs513.44 million from railway network.