DESPARDES — The PTI-government’s Cabinet Committee on Privatization (CCOP) on Tuesday took off the table five unused state properties from the ongoing privatization initiative.
Three of the properties will be handed over to the Naya Pakistan Housing Authority (NPHA) for construction of low-cost housing units for sale to qualified low-income individuals.
They are located at: Mohanwal in Lahore worth Rs4.5 billion. 2. PIPRI, Karachi worth Rs500 million and 3. on Hawksbay road in Karachi worth Rs700 million.
The property that has a clean title and is ripe for jump-starting the NPHA project is Mohanwali property in Lahore, according to the privatization ministry officials, reports ET.
Over 7,000 low-cost apartments can be built on the land by NPHA, according to privatization ministry’s assessment.
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The other two properties’ titles were not clear and had been pledged to lending institution for commercial loans.
The committee directed relevant ministries to identify two alternate unused state properties with clear titles and transfer them to the Privatization Commission for monetization.
The five unused properties taken off the list are reportedly worth Rs6.7 billion, according to the Express Tribune.
Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh chaired the meeting.
State properties that were removed from the privatization list (according to Dawn) include:
1. Two state properties belonging to Radio Pakistan: includes a 842 kanal commercial/agricultural land at Multan Road in Lahore and 928 kanal commercial land at Pipri, Karachi.
2. State land measuring 19 kanal and belonging to Pakistan Post in F-15, Islamabad.
Likewise, two properties of FBR, including an IRS Colony of four kanals in Lahore and a 50-acre land at Hawksbay Road in Mauripur, Karachi were removed from the sale list.
Conversion: 1 kanal = 0.125 acre