Railways raises Badami Bagh lease revenue
LAHORE: The Pakistan Railways has substantially increased its annual revenue from commercial assets through the transparent auction of 125 godowns at Badami Bagh, Lahore. According to the railway authorities, the auction has raised the annual lease revenue from Rs72.2 million to Rs331.08 million, representing an increase of 358.6 per cent. In addition to the recurring lease income, the Pakistan…
LAHORE: Pakistan Railways has significantly boosted its annual revenue from leased assets by auctioning 125 godowns in Badami Bagh, Lahore. According to railway officials, the auction has escalated the annual lease revenue from Rs72.2 million to Rs331.08 million, marking an impressive increase of 358.6 per cent. Moreover, Pakistan Railways will receive an upfront security deposit of Rs277.72 million for the year.
The total revenue from the auction, including the annual lease payment and security deposit, will amount to Rs608.80 million in the first year. This represents a remarkable 743.5 per cent increase in cash flow compared to the previous year. Federal Minister for Railways, Muhammad Hanif Abbasi, emphasized that transparency and national interest are top priorities for the government.
He praised the transparent utilization of railway assets, stating that it would directly contribute to the national exchequer and commended the railway administration for conducting the auction process professionally.
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