ISLAMABAD: The Punjab government has raised Rs. 2.7 billion by auctioning 60 properties through a transparent bidding process conducted across multiple districts, according to a report by *Dawn*.
The properties, previously managed by the Punjab Privatization Board, were transferred to the Colonies Department under the Board of Revenue (BoR) following a departmental merger. A senior BoR official disclosed that the original portfolio included 310 properties valued at over Rs. 11.5 billion. So far, 60 of these assets have been successfully auctioned with approval granted in a meeting held last Friday.
Many of the auctioned properties were fragmented plots under illegal occupation, which were reclaimed by district administrations before being put up for sale. The properties sold were located in districts such as Dera Ghazi Khan, Kasur, Muzaffargarh, Gujranwala, Khanewal, and Lodhran.
BoR members supervised the auctions, ensuring transparency. The valuations were determined by District and Provincial Price Assessment Committees, and successful bidders received allotments upon full payment.
The remaining 250 properties, which are not linked to public schemes or essential state initiatives, are expected to be auctioned in the coming months, the official added.
Separately, the BoR convened its sixth Full Board meeting, chaired by Senior Member Board of Revenue (SMBR) Nabeel Javed. The meeting addressed 15 agenda items, including ratifying earlier decisions, extending the Agricultural Graduates Scheme, resolving delays in restricted-area property mutations, and exploring large-scale collaborations.
The SMBR also emphasized greater transparency in future auctions, directing that announcements be published in national newspapers, displayed at tehsil offices, and posted on the BoR’s official website. The board also reviewed updates to the Land Acquisition Act of 1894, underscoring the importance of streamlined procedures.
