ETPB Revises Rent Rates Of Properties In Accordance With SC Decision: Secretary

LAHORE, (UrduPoint / Pakistan Point News - 19th Sep, 2024) Evacuee Trust Property Board (ETPB) Pakistan Secretary Farid Iqbal on Thursday said that as per the orders of the Supreme Court (SC), the ETPB has started the estimation for the collection of urban and commercial properties' rent at the current market rate.

According to the press releases issued by the spokesperson of the board, the secretary ETPB said that the ETPB would be made a profitable organization due to special efforts of Chairman Board Syed Attaur Rehman. He said that all districts have been instructed to complete the survey as soon as possible. The revenue of the department is expected to increase by more than 3 billion rupees, he added. The law of tenancy at the market rate has been implemented according to the principle decision of the SCP, the secretary said.

Farid Iqbal said that after estimating commercial and residential properties of the department, according to the market rent rate, the bills will be issued according to the new rates, for which the administrators and deputy administrators of all districts should complete the land survey by the specified date.

This task has been assigned which is being monitored on a daily basis through the mobile application, he added.

He said the properties managed by the Trust Board were given on very low rents, after which the department started renting at market rates in 2006, but this move was challenged in court by the tenants, with an appeal filed in the Supreme Court. Later, the department convinced the court with positive arguments in different periods and in 2023, the SCP issued clear orders to collect the rent of all properties according to the market rate. He added that after the approval of the departmental committee and the board, this process has been started.