LAHORE: Packages Limited on Monday announced that it is in the process of obtaining the order and details from the Supreme Court of Pakistan (SCP) pertaining to leased land with 231 canals and 19 marls on Saturday.
In a notice sent to the Pakistan Stock Exchange (PSX) on Monday, Packages Limited said it is in the process of obtaining the order from the main court on the leased land and will inform the example of the exact relevant details as soon as it receives it.
On Saturday, the apex ordered Packages Limited to pay a lease of Rs500 million for the land where its factory is being built after the end of the 2015 lease agreement.
A two-member bench headed by Chief Justice of Pakistan (CJP) Mian Saqib Nisar heard the matter at the Lahore registry.
The main court ruled that the land would no longer be leased to anyone and would instead be auctioned off with first priority given to Packages Limited for its purchase.
The CJP expressed surprise, knowing that nothing had been done “with the [revenue] people just sit around ”since the lease expired.
“Is that the law of the land?” Those responsible for the renewal of the lease did nothing, “he noted, adding that” these poor people [Packages Limited] honestly himself came to make the payment “.
The chief judge then asked Lahore deputy commissioner (DC) Saliha Saeed to clarify the matter from the outset.
DC Saeed said Packages Limited received government land from 1955 to 1985 during a lease for its
Then, on July 6, 2015, Packages Limited asked the Board of Revenue (BoR) for another extension, a matter still pending.
The deputy commissioner said the BoR also received all important documents on the land along with other details in 2017.
CJP Nisar asked a senior member of the BoR present in the court to explain what the delay was. “Please explain clearly why this issue is still being handled.”
The chief judge then asked, “Where is it [the director general] DG NAB? If we can capture Mansha Khokhar, no one can evade the law, no matter how respectable. ”
The BoR (Member Colonies) official acknowledged that many candidates are pending. He said a new policy had been formulated according to which government land would no longer be leased.
He said there had previously been no policy formulation on renting government land and the matter was awaiting a decision by a committee consisting of the provincial ministers of law, revenue and finance.
“What was the mandate of this committee?” Not a single rupee has been paid since 2015, ”the CJP said, asking the BoR official,“ Who were the provincial ministers at that time? ”
“Rana Sanaullah and Ayesha Ghaus Pasha were the provincial ministers of law and finance,” the BoR official replied. He added that since the formulation of the new policy, a request has been made to the prime minister to convene a cabinet meeting as soon as possible and review the matter.
The court announced the dissolution of the lease and ordered the company to pay a sum of Rs500 million as appropriate payment.
Packages Limited shares traded at Rs377.50, down Rs0.32 (-0.08%). And the KSE-100 index traded at 38,508.42 points, up 960.93 points (+ 2.56%) during day trading.
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