Lahore: In accordance with directives from Prime Minister Muhammad Shehbaz Sharif, Pakistan Railways has successfully completed a significant leasing initiative, boosting its annual revenue through a transparent auction process. The department has auctioned 125 commercial godowns at Badami Bagh, Lahore, resulting in a notable increase in lease revenue and liquidity.

According to Press Information Department, the finalized auction terms will increase the annual lease revenue from PKR 72.2 million to PKR 331.08 million, a rise of 358.6 percent. Additionally, Pakistan Railways will receive an upfront lump-sum payment of PKR 277.72 million as a one-year security deposit. This has led to an overall cash flow increase of 743.5 percent compared to the previous year.

Including the first year’s lease payment and the upfront security deposit, the total revenue for Pakistan Railways will amount to PKR 608.80 million in the first year. Federal Minister for Railways Muhammad Hanif Abbasi stated that the government prioritizes national interest and transparency, noting that asset utilization directly benefits the national exchequer. He congratulated the railway administration for conducting a professional auction process.