Islamabad: The government on Monday auctioned off a state land in Nawabshah for PKR 23.2 million, in addition to selling 22 other properties (including 40 kanals of land near the Nawabshah Airport).
The auction was conducted through open bidding and the said land belonged to the Aviation Division of the Civil Aviation Authority (CAA). The reserved price of the auctioned land was set at eight million.
This latest auction of federal-owned properties for land in Nawabshah and previous auctions have been conducted through the open competition. The highest bidder will be given ownership rights of the specified property. However, the final approval will be granted by the Capital City Police Officer (CCPO) or the Federal Cabinet.
Previously, on September 7, the Privatization Commission notified its receipt of PKR 156.45 million for an auction event held for the sale of 26 government properties in Islamabad.