Rawalpindi: Pakistan Railways has decided to give land of unused railway stations and yards in Rawalpindi, Peshawar, Multan, Lahore and Sukkur Division on 21-year non-extendable lease.
20 million for the 35,000 square feet site of Chakwal Station Yard in Rawalpindi Division, 10 million for the 31,500 square feet site of Pandadan Khan Station, 18,000 for the Suhala Railway Station Yard in the 14 railway properties selected by Pakistan Railways for leasing. Square feet site for 19 million, 24,356 square feet site of Malkwal Station for 10 million, 22,500 square feet site of Harwa Malkwal Station for 17 million, 18,900 square feet site of Railway Bakery Chowk Rawalpindi for 30 million, 8,162 square feet site of Murir Chowk Rawalpindi for 20 million, Lahore 8 million for the 40,000 sq ft site at Pir Mahal Station, 25 million for the 22,560 sq ft site at Powerhouse Sukkur in the division.
A security of 2 million per bid is set for each site lease auction bid. According to railway sources, due to the non-usability of the said sites, the monthly rent will be set on a 21-year lease and it will be increased by 10% annually. These railway sites will be used for petrol pumps and other commercial purposes. Expecting revenue of over Rs.1 crore, the Railway State Development and Marketing Company (REDEMCO) has initiated steps to lease out the said sites.
