Pakistan Railways has scrapped all property auctions held from October 20 to 23 and postponed those planned for October 24 to 27 in Lahore after concerns were raised about transparency in the process.
Federal Minister for Railways Muhammad Hanif Abbasi took action following media reports highlighting irregularities in recent auctions. Speaking to reporters, he said the offered price of Rs220 per square foot was below expectations compared to the benchmark rate of Rs200, prompting the cancellation.
Abbasi announced that a new benchmark of Rs300 per square foot would be set, with the aim of attracting bids around Rs350 to ensure better value for the department. He assured that future auctions would be conducted under strict supervision, monitored by senior officials, and fully recorded to guarantee transparency.
The minister added that Pakistan Railways would soon restart the property auction process with improved oversight, noting that his earlier reforms had already saved the department billions of rupees in previous auctions of luggage vans and cargo services.
In recent developments regarding railway sector, Lahore Railway Station Undergoes Significant Modernization Work
