Rawalpindi- Punjab government has accorded approval to rate to be paid to the owners in respect of the land acquired from them in connection with Metro Bus project.
Sources said cost of land will be paid to owners at the rate of Rs 3 million per marla. The tenants will be paid compensation equal to the rent of one year.
Acquisition cost is estimated at Rs 65 million as per formula based on double of DC rate plus 15 percent structure cost. KP has obtained the contract against 23 percent lowest bid in respect of Metro bus Islamabad package 4-Z. Cost of package stood at Rs 74 billion. Five companies took part in the bid. The previous bid held on this count was cancelled.
