Lahore: The Punjab government has decided to lease-out agricultural land owned by cooperative societies – a news source reported.
A special meeting to this effect took place at the office of the Cooperatives Department. Provincial Minister for Cooperatives Meher Islam Bharwana presided over the session.
Secretary Cooperatives Mansoor Qadir and Punjab Cooperative Board for Liquidation (PCBL) Chairman Hamayun Mazhar Sheikh were also present at the occasion.
The minister said that the previous government had imposed a ban on the lease of land belonging to the Cooperatives Department. This practice favoured land grabbers instead of the government.
He further stated that the incumbent government has decided to end the ban. In a similar effort, the Cooperatives Department will advertise the bidding process in an attempt to lease out its agricultural land.
The meeting was informed that the annual rental income from 152 properties of the department currently stands at PKR 44.5 million. Moreover, the government aims to earn an additional annual income of PKR 10.5 million by auctioning 45 more properties.
