Railways earns Rs 12,770.02 mln in ten years from land leasing.

ISLAMABAD -- The Ministry of Railways has earned around Rs 12770.02 million revenue by leasing out its across the country land for various purposes including short term basis in the last ten years.

Pakistan Railways has leased and licensed out around 15025.44 acres land to generate extra revenue to the government departments for 21 to 33 years as per the policy, an official in the Ministry of Railways

Giving province wise details of the land, he said that in Khyber Pakhtunkhwa 656.98 acres were leased out, 12667.30 acres in Punjab, and 1560.13 acres in Sindh, 137.25 acres in Balochistan and 3.79 acres in Pakistan Railways network.

He said the assessment of commercial site was conducted through approved accredited evaluators of Pakistan Banking Association/State Bank of Pakistan for fixing a benchmark and then advertised for leasing in leading newspapers.

For agricultural purposes, he said that through competitive bidding by fixing 'ousat bay' rate as reserve price for open auction for a lease term of three years for cultivable land and extendable for another three years for barren land.

He said that for...