LAHORE: Evacuee Trust Property Board (ETPB) has leased the Haji Camp property of 19 kanal and 11 marla at a merger premium of Rs. 19.40 crore for the time of 30 years.
According to details, EPTB board had given the land of Haji Camp at the rate of five lac, seven thousand, five hundred and eighty-seven rupees per marla to the private sector for the duration of thirty years. The rate is seventy percent less than the government rate of the same area and 847 times less than that of the market rate.
ETPB had used its authorities illegally for leasing the land to private sector. The Haji Camp had been given on lease to Safdar Iqbal for the duration of thirty years. The contract is extendable as well.
This sanction of ETPB would suffer a loss of Rs. 1.46 billion to the national treasure. It clearly shows that the board decision was made to favor Safdar Iqbal.
Earlier, the rates that had been fixed by the Federal Board of Revenue (FBR) for the Empress Road were 12.93 lac rupees per marla.
While, for the Nicholson Road this rate is Rs. 17.96 per marla. While the market rate for the same property is Rs. 43 lac per marla. Market worth of the Haji Camp is at least 68.67 crore according to the rates given by FBR. But the rate at which the property was given had only Rs. 19.40 crore only.
The decision to lease the property was made to increase the revenue of ETPB, but the current comparison states that it would gave loss only. Experts were astonished over the decision of ETPB as the rate of this land is 35 percent less than that of Raiwind.