Punjab Govt Generates Rs. 2.7 Billion Through Auction of 60 Properties

The Punjab government has recently generated Rs. 2.7 billion by auctioning 60 properties through an open bidding process conducted across various districts, Dawn has reported. These properties were initially part of the Punjab Privatization Board’s asset sale plan. However, after the board was integrated into the Colonies Department under the Board of Revenue (BoR), the responsibility for managing these assets shifted to the BoR. A senior BoR official, speaking to Dawn on condition of anonymity, shared that the portfolio initially comprised 310 properties valued at over Rs. 11.5 billion. Following the merger, the BoR successfully auctioned 60 of these properties through a transparent process, securing approval for the sales in a meeting held on Friday. The official revealed to Dawn that many of the auctioned properties were fragmented plots under illegal occupation. These were reclaimed through operations carried out by district administrations before being offered for sale. The 60 auctioned properties were located in districts such as Dera Ghazi Khan, Kasur, Muzaffargarh, Gujranwala, Khanewal, and Lodhran. The auctions were conducted under the supervision of BoR members, ensuring a transparent process. The properties were sold based on valuations determined by District and Provincial Price Assessment Committees, and allotments were granted to successful bidders upon full payment. The remaining 250 properties in the portfolio are not part of public schemes like the agricultural graduate or horse-breeding initiatives and do not serve any direct public purpose, according to the official. In a separate development, the BoR held its sixth Full Board meeting under the leadership of Senior Member Board of Revenue (SMBR) Nabeel Javed. The meeting, attended by various senior officials, addressed 15 key agenda items. Decisions included ratifying previous meeting minutes, approving state land auctions, extending the Agricultural Graduates Scheme, resolving delays in property mutations in restricted areas, and fostering large-scale collaborations. The board also reviewed the Land Acquisition Act of 1894, with the SMBR directing that future auction announcements be widely publicized. These should appear not only in national newspapers but also on the BoR website and at tehsil offices to maintain transparency and accessibility.