Islamabad, Dec 8: The Punjab government recently raised Rs. 2.7 billion by holding an open bidding process for 60 properties spread across several districts. Originally, these assets were included in the asset sale plan of the Punjab Privatization Board. However, the Board of Revenue (BoR) took over management of these assets after the board was incorporated into the Colonies Department.
Speaking to Dawn under anonymity, a top BoR officer revealed that the portfolio’s original worth was over Rs. 11.5 billion, with 310 properties. Following the merger, 60 of these properties were successfully put up for auction by the BoR in an open process, and the sales were approved at a meeting on Friday.
Dawn learned from the official that a large number of the properties up for auction were disjointed parcels occupied illegally. Before being put up for sale, these were regained through actions taken by district administrations. Districts including Dera Ghazi Khan, Kasur, Muzaffargarh, Gujranwala, Khanewal, and Lodhran were home to the 60 properties up for auction.
Members of the Board of Directors oversaw the auctions, guaranteeing an open and honest procedure. Allotments were given to winning bidders upon full payment, and the properties were auctioned according to valuations established by the District and Provincial Price Assessment Committees.
According to the source, the remaining 250 properties in the portfolio have no direct public use and are not included in government programs like the agricultural graduate or horse-breeding initiatives. In a different development, Senior Member Board of Revenue (SMBR) Nabeel Javed presided over the BoR’s sixth Full Board meeting. Fifteen important agenda items were discussed at the meeting, which was attended by a number of senior authorities.
Resolving delays in property modifications in limited areas, authorizing state land auctions, extending the Agricultural Graduates Scheme, endorsing the minutes of earlier meetings, and encouraging extensive collaborations were among the decisions made.
The SMBR ordered that future auction announcements be extensively advertised after the board also examined the Land Acquisition Act of 1894. To ensure openness and accessibility, these should be published at tehsil offices, on the BoR website, and in national newspapers.
