Summery to wind up parking company forwarded


A summary for winding up the Lahore Parking Company and outsourcing the operation of stands to reduce the expenses of the government has been sent to the Punjab chief minister.

The company was formed in 2011 to operate the parking stands on modern lines to ensure efficiency after the function as taken over from the Metropolitan Corporation Lahore. According to official record, there were 198 small and large parking stands in the city at the time, from which the corporation earned an annual income of Rs67 million. Parking charges of Rs5 on motorcycles and Rs10 on cars were received at the facilities.

After the formation of the parking company, the fee for a motorcycle was increased to Rs10 and for a car to Rs30. The number of designated parking stands in the provincial capital was increased to 214.

However, the number of vehicles in the city has been increasing rapidly as a result of its bulging population during the past decade. The parking company earns an annual income of about Rs180 million. However, officials disclosed that more than 80 per cent of the amount is spent by the company on its operation. An annual profit of about Rs34.5 million is being made.

However, during the operation of the parking stands by the metropolitan corporation, the annual aftre deduction of expenses was Rs67 million.

Instead of an increase in the annual income after the formation of the separate company, a reduction of Rs25 million to Rs30 million has been recorded.