ISLAMABAD: Staff Welfare Committee of Capital Development Authority (CDA) on Monday expressed optimism that the transparent auctioning will secure the highest bid for leasing out F-6 petrol pump as revenue generated from this deal would be spent on employees`welfare.

After terming the cancellation of lease on default and taking over possession of the petrol pump by CDA as positive development for employees, the welfare committee pinned high hopes for good revenue generation form upcoming auction.

Petrol pumps of CDA, one each on Embassy Road and F-6 near the National Press Club, are assets of CDA`s employees, and the revenue generated from them is supposed to be spent on employees from grade 1 to 16 for weddings of their sons and daughters, death,etc.

Following the termination of leaseagreement with PSO and Awan Associates, CDA took possession of the site on Sunday.

According to CDA the tenant lease had been in continuous violation of the agreement for the past 25 years and owed CDA a substantial amount of Rs480 million.

CDA said that despite repeated notices issued to recover the outstanding dues, the companies failed to make any payments over several years.

In addition to outstanding liabilities, CDA said that the lease was repeatedly found to be breaching the approved layout plan and had established several unauthorised structures atthe site,contrary to the terms of the agreement.

CDA had issued notices for the removal of these encroachments, but no response was given by the companies. As a result of non-compliance, CDA has officially cancelled the lease and taken back the possession of the site. Staff Reporter