Pakistan Railways (PR) on Saturday signed an agreement with M/s Classic Needs Pakistan (Pvt) Ltd, for 'Exclusive Selling Rights' of drinking bottled water over the PR Stations' network across the country.
Secretary/Chairman Railways Hamid Hassan Butt signed the agreement on behalf of the Pakistan Railways (PR) and received initial instalment draft of Rs 6.350 million from M/s Classic. Kamran Amir Awan, Chief Executive-Classic signed the document on behalf of his organisation.
Federal Minister for Railways, Ghous Bukhsh Mehar was also present at the signing ceremony.
Pakistan Railways will earn around Rs 20 million over the currency of the said agreement which is three-year in addition to availability of premium drinking water for its passengers all over Pakistan basis.
Moreover, PR also inked another agreement with M/s Ali Corporation for leasing out its land measuring approximately 18,920 Sq. ft located at Belgium Chowk, Rahim Yar Khan Sukkur Division.
The said piece of land was previously under encroachment and was vacated by Pakistan Railways (PR) and was presently still under threats of encroachments.
Till date it was of no use for the Railways, says a press release distributed on this occasion. Salient features of the lease are that it has been given on lease for 33 years and Railways will earn Rs 10 million approximately.
Secretary/Chairman Railways Major General Hamid Hassan Butt has signed the agreement on behalf of the Pakistan Railways and M. Nazir Ahmed, Managing Partner of M/s Ali Corporation on behalf of his organisation.
Speaking on this occasion, the Federal Minister, Ghous Bukhsh Mehar said that PR was following strategy to convert its non-productive assets in to revenue generating and landmark projects.
For this purpose, PR established the Directorate of Marketing, some four years back, which works directly under the guidance of Ministry of Railways to launch new business ventures using non-rail related railways assets and coupling with capital investment from the private sector.
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