SWABI: The Swabi Development Authority (SDA) has fetched about Rs90 million through the recent auction of residential plots, sources in the authority told this correspondent here on Thursday.

They said the auction attracted a large number of investors who lauded the investment-friendly policy of the SDA.

The amount would be deposited by the investors in the SDA accounts as per agreed procedure, said the sources, adding that those who acquired plots in the auction would pay the money within three months.

They said that those who participated in the auction had deposited Rs300,000 for every plot as security, which would be returned to the unsuccessful candidates. They said the successful investors would deposit 25 per centof the total amount within seven days.

The sources said that overall the auction committee had received bids for nine plots, each measuring one kanal, in sectors B, C, D and E.

The highest bid received was of Rs10.3 million for a kanal plot in sector E.

RESEARCH CENTRE: Abdul Rafey, leading a team of Dawlance research and development, said during his visit to the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology on Thursday that they wanted to establish a research and development centre in the GIK Institute.

The delegation held a meeting with GIK Institute Rector Prof Dr Fazal A. Khalid which was also attended by the pro-rectors and deans of mechanical and electrical engineering faculties.

The rector highlighted the strengths of various faculties of the institute that could be utilised by the company for research and development in the areas agreed between the GIK Institute and the company.

Abdul Rafey expressed his interest in technical collaboration.

The rector proposed exchange of visits by the GIK Institute faculty members and the engineers of Dawlance to specify the areas for research and development activities.

The meeting was followed by signing of the MOU between the GIK Institute and Dawlance for research in agreed areas.

Published in Dawn, April 8th, 2022