Pakistan Railways and Pakistan State Oil (PSO) have agreed on payment of rent for railways land usage after 40 years. The rented lands are spread across country.
An agreement was reached between Pakistan Railways and Pakistan State Oil regarding land rent here in Lahore at Railways Headquarters on Monday. According to the details, Pakistan Railways had leased some parts of its land to PSO since 1982 which was being used by Pakistan State Oil to store its oil reserves.
Matters were pending in both the institutions for fixing the rent of 15 places since. The legal teams of both the organizations drafted the agreement which was signed by Additional General Manager Infrastructure Arshad Salam Khattak of Pakistan Railways and GM Operations Atif Siddiqui of PSO.
Muhammad Hafeezullah, DG Land Pakistan Railways, said that the agreement was based on mutual trust between the two institutions and will help in restoring the confidence of both sides.
These site includes, Akora Khattak, Kundian, Sargodha, Badami Bagh 1, Badami Bagh 2, Kot Lakhpat 1, Kot Lakhpat 2, Faisalabad, Faisalabad 2, Gujranwala, Sahiwal, Vehari 1, Vehari 2, Mehmoodkot and Haiderabad.
Details were sought both from Pakistan Railways and PSO but none of the organization could reply our queries regarding the total amount of rent and upfront payments by PSO.