Rawalpindi: The Rawalpindi Municipal Corporation (RMC) has leased out the remaining two storeys of its building for PKR 850,000 per month to generate additional revenue, a news source reported.
Previously, the corporation had leased out first three storeys of said building for PKR 1.6 million. The local bureaucracy later allowed RMC to rent out the remaining portions to a private company.
The civic agency would start receiving monthly rent of PKR 2.5 million after the auction process for the building. The total monthly rent for the basement and first four floors amounts to PKR 2.2 million.
An RMC official said that the corporation would be able to generate additional revenue as it had not performed well financially in the current year. To address financial concerns, RMC has also decided to reduce its development budget for the fiscal year (FY) 2019-20.
