ETPB observes transparency in auctions: Farooq

Staff Reporter

Evacuee Trust Property Board (ETPB) Chairman Muhammad Siddiqul Farooq Saturday said that the board leased out 19-kanal-and-11-marla land of Haji Camp at a premium of Rs 194 million for 30 years in an auction.
While addressing a press conference at his residence here, he said that the ETPB has observed transparency in its auctions and advertisements have been published in all national newspapers before the final auction.
He said that the lease contract with the Ministry of Hajj and Religious Affiars had expired on June 30, 2016, and after that the process for new lease had been initiated. He said that Rs 5 million would be the annual rent for the building, which would increase by eight per cent annually.
“This auction amount is the highest of the ETPB history in the form of lease,” he added.
He said that after two years, the ETPB would earn an amount of Rs 50 million per annum. “This year, Haji camps will be organised at the same building for the training of pilgrims,” he said.
He said the ETPB had proposed a eight-kanal land near Thokar Niaz Baig on lease for 30 years to the Ministry of Hajj and Religious Affairs so that it could construct its own multi-storey building to organise annual Hajj trainings there and earn some money by renting out the building.
He clarified that other departments like Pakistan Railways, Capital Development Authority (CDA) and Cantonment Board lease out their land for 99 years, and receive no rent on their properties. However, the ETPB leased out its property for 30 years, and it would also receive rent for it.

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