ISLAMABAD (Sanaullah Khan): Port Qasim Authority leased out 253.18 acres of land to three companies, surprisingly on different prices during last two years on the directions of federal government.
It has been disclosed in official documents of Ministry of Ports and Shipping exclusively available with Custom Today.
According to these documents Port Qasim Authority leased 40 acres to Pak Suzuki Motor Company Limited @ Rs.5 million per acre situated in Eastern Industrial Zone of PQA. Pak Suzuki Motor Company Limited will utilize this land for the period of 50 years.
According to the agreement the said project will be operational within five years from the date of possession of plot. After five years in case of failure non utilization fee will be charged as per PQA standard schedule.
Surprisingly, Port Qasim Authority allotted a plot measuring 200 acres for the coal fired power project to PQEPCL at the rate of only Rs 2.5 million per acre for 50 years. This land is also situated in Eastern Industrial Zone of PQA. Port Qasim Authority fixed 25% down payment that is Rs 125,000,000/. PQEPCL had to pay remaining 75% amount Rs375,000,000/ within 60 days after the date of signing of the agreement. The land initially leased for a period of 50 years, with further renewals for a period of 50 years .
Contrary to the above allotments, the Port Qasim Authority leased out 13.18 acre of land to Engro Elengy Terminal at the rate of 6.5 million per acre. The plot shall be provided for a period of 30 years on lease basis. The lease period will commence in accordance with terms and conditions of implement agreement. The land rate shall be Rs 92, 610 per acre per annum. The principle development charges against the above plot shall be comes total Rs 85,670,000/.
