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Govt is considering leasing out state-owned properties in Karachi & Lahore

Islamabad: The government is considering leasing out state-owned properties in Lahore and Karachi in a bid to generate revenue.

The Ministry of Housing & works stated that the executive might lease out Qasr-e-Naz in Karachi and Chamba House in Lahore for a period of 30 years.

Following the directions of the government, the ministry is identifying properties across the country to generate non-tax revenue. Currently, the ministry was maintaining touring lodges in different parts of Pakistan to provide accommodation to officers of the federal and provincial governments on official visits.

Sources revealed that these lodges were situated on prime locations and highly valuable land. These properties particularly included Qasr-e-Naz and Chamba House. Due to deterioration of these properties, touring officers refuse stating, which has led to a decrease in revenue.

Therefore, the ministry has proposed to the government to lease out both properties for a period of 30 years via competitive bidding process with 5% to 10% equity. Ministry officials revealed that this measure would put both facilities to optimum use and generate revenue.

According to the details, the leasing agreement would include the permission to upgrade and construct. Moreover, the private party winning the lease bid would be bound to accommodate government officers on priority basis.

Meanwhile, the ministry has ensured that the heritage of these properties was preserved and prepared the Request for Proposals (RFPs) for leasing out the properties.

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