The Punjab government has sought details of vacant, unused, and underutilized residential and commercial properties owned by the state as it looks to meet a Rs. 500 billion revenue target in the next fiscal year.
According to a letter issued by the Housing, Urban Development and Public Health Engineering Department, 12 institutions have been directed to submit the required details. These include nine development authorities and three other government bodies.
The letter has been sent to the director generals of the Rawalpindi, Lahore, Sargodha, Multan, Faisalabad, Bahawalpur, Gujranwala, Dera Ghazi Khan, and Koh-e-Suleman development authorities.
The chief executive officer of the Ravi Urban Development Authority, the director general of the Punjab Housing and Planning Agency, and the chief executive officer of the Punjab Central Business District Development Authority have also been asked to provide the information.
The department said the properties could be used to help achieve the province’s Rs. 500 billion revenue target for the upcoming fiscal year.
The authorities have been directed to compile records of all state-owned residential and commercial properties that are vacant, unused, or underutilized. They have also been asked to share details of government properties that have been sold, leased, auctioned, licensed, or put to any other use.
In addition, the agencies have been asked to identify roads, corridors, and areas with commercial potential and submit recommendations for their use.
The letter further directed the institutions to assess land and property values, evaluate commercialisation potential, identify possible revenue-generation opportunities, and submit detailed action plans with implementation timelines for achieving their respective revenue targets.