ISLAMABAD, Feb 17 (APP):The Evacuee Property Trust Board (ETPB) has decided to auction its 55 properties of over 3,162 kanals for auctioning to public and private sectors for setting up educational and health facilities lying in 20 urban centers of the country.
As per vision of the Prime Minister, the Federal Cabinet approved the Rules/amendments to supplement health and education facilities to general public by utilization of urban Evacuee Trust land and properties through public and private sector, said a letter of ETPB available with APP.
The public sector comprising federal, provincial and local governments were eligible to apply to the Ministry of Religious Affairs and Interfaith Harmony (MoRA&IH) whereas non-profitable and charitable institutions were also encouraged to apply for utilizing the properties for public facilitation.
It added that the Terms & Conditions or Rent would be determined by the Board whereas the final approval would be granted by the Federal Government.
As per the conditions mentioned in the letter, the Reserve rate of land should be fixed only at the rate of 10 percent of prevalent market value which would reduce cost on procurement of land for education & health sector.
Secondly, the expression of interest should be floated through wide publicity for 30-year lease and auction committee would be headed by MoRA&IH representative.
Interestingly on compassionate ground, no rent would be charged during construction period (upto 3 years), adding, rent would be waived off if building was completed before pledged time.
Keeping in view the noble cause, concessional rent would be determined assessing construction cost, philanthropic contribution for general public and ground realities. However, the Lessee would have to ensure map and ancillary approvals alongwith maintenance and security.
It highlighted that only in case of violation of agreement and utilization other than specified purpose, would cause cancellation where disputes would be referred to Arbitrator.
Moreover, for facilitation i.e cafeteria, parking and pharmacy (in case of Hospital) and bookshop (for educational institutions) would be decided by the Board.
The conditions for Private Sector were similar to that of Public Sector with some additional terms as Reserve rate of land should be fixed only at 10 percent of prevalent market value (after commercial valuation from NESPAK).
Around 55 properties of 3162 Kanals and 16 Marlas of the ETPB, located in 20 cities across the country, would be auctioned for lease to establish educational and health facilities. The cities included Lahore, Kasur, Nankana, Sheikhupura, Faisalabad, Narowal, Rawalpindi, Chakwal, Hassanabdal, Haripur, Attock, Garhi Habibullah, Peshawar, Dera Ismail Khan, Lodhran, Multan, Bahawalnagar, Bhakkar, Layyah, Karachi and Hyderabad.
The public sector comprising federal, provincial and local governments were eligible to apply to the Ministry of Religious Affairs and Interfaith Harmony (MoRA&IH) whereas non-profitable and charitable institutions were also encouraged to apply for utilizing the properties for public facilitation.
It added that the Terms & Conditions or Rent would be determined by the Board whereas the final approval would be granted by the Federal Government.
As per the conditions mentioned in the letter, the Reserve rate of land should be fixed only at the rate of 10 percent of prevalent market value which would reduce cost on procurement of land for education & health sector.
Secondly, the expression of interest should be floated through wide publicity for 30-year lease and auction committee would be headed by MoRA&IH representative.
Interestingly on compassionate ground, no rent would be charged during construction period (upto 3 years), adding, rent would be waived off if building was completed before pledged time.
Keeping in view the noble cause, concessional rent would be determined assessing construction cost, philanthropic contribution for general public and ground realities. However, the Lessee would have to ensure map and ancillary approvals alongwith maintenance and security.
It highlighted that only in case of violation of agreement and utilization other than specified purpose, would cause cancellation where disputes would be referred to Arbitrator.
Moreover, for facilitation i.e cafeteria, parking and pharmacy (in case of Hospital) and bookshop (for educational institutions) would be decided by the Board.
The conditions for Private Sector were similar to that of Public Sector with some additional terms as Reserve rate of land should be fixed only at 10 percent of prevalent market value (after commercial valuation from NESPAK).
Around 55 properties of 3162 Kanals and 16 Marlas of the ETPB, located in 20 cities across the country, would be auctioned for lease to establish educational and health facilities. The cities included Lahore, Kasur, Nankana, Sheikhupura, Faisalabad, Narowal, Rawalpindi, Chakwal, Hassanabdal, Haripur, Attock, Garhi Habibullah, Peshawar, Dera Ismail Khan, Lodhran, Multan, Bahawalnagar, Bhakkar, Layyah, Karachi and Hyderabad.