Railways raises Badami Bagh lease revenue

Business Recorder reported that the Pakistan Railways has sharply raised its yearly income from commercial assets through an open auction of 125 godowns at Badami Bagh, Lahore. According to railway authorities, annual lease revenue has climbed to Rs331.08 million from Rs72.2 million, a rise of 358.6 per cent.

Beyond the recurring lease payments, the railways will also collect an upfront one-year security deposit of Rs277.72 million. Authorities put the total first-year cash from the auction, including lease and deposit, at Rs608.80 million. They also said overall cash flow rose 743.5 per cent compared with the previous year.

Federal Minister for Railways Muhammad Hanif Abbasi stressed transparency and national interest as key government priorities. He said that open use of railway assets would add directly to the national exchequer, and he commended the railway administration for running the auction professionally.