FAISALABAD, Jan 13: Pakistan Railways has decided to lease out its six acres of land in front of the railways station for a period of 99 years and called invitations from noted national and international firms. The land, situated on the road leading to Abdullahpur bridge, has been divided into two plots — 2.83 acres and 3.09 acres.

The agreement would be signed with the successful bidder under the ‘Straight Lease basis.’

Railway officials claimed that the decision to lease out the land had been taken to generate funds for the organization.

It may be noted that 4.5 acres of land adjacent to this land, had been allotted to a consortium, M/s Ajmi (Private) Limited without open bidding for the construction of a commercial centre.

The consortium was bound to pay Rs111 million within 21 months after the agreement but it could not be done. However, after about four years of the agreement, railway authorities cancelled the agreement for not paying instalments to the organization. Instead of taking steps for the ‘resale’ of the same land through open auction, the railway authorities preferred to invite bids for another six acres. The invitations have been called till Jan 25.