SC seeks alternative opinion from BoI about lease of Railways golf club, July 27, 2020
ISLAMABAD-The Supreme Court (SC) on Monday sought an alternative opinion from the Board of Investment (BoI) regarding lease of Railways Royal Palm Golf and Country Club, Lahore.
A three-member bench of the apex court, headed by Justice Umar Ata Bandial, heard the case.
During the course of proceedings, the court directed the golf club administration to complete the accounts' details of the club.
Justice Bandial asked the Railways counsel that the Railways wanted to lease out a project but its accounts details' were not completed. The investor who showed interest in the lease would ask for accounts first, he added.
Justice Ijaz Ul Ahsan said the investors would leave if the Railways did not have complete documents.
Justice Bandial said the court suggested that it should be leased for five years.
The golf club chairman said no investor would be agreed to invest huge amount just for five years. He proposed the court that the lease should be for at least 15 years.
The court asked the BoI to submit a feasibility report in that regard.
The BoI secretary said the board itself did not prepare feasibility report but it hire consultants for the job.
Justice Bandial said BoI's primary job was to prepare feasibility reports.
He asked the secretary how much was the BoI's budget?
The additional director investment board said the BoI's total budget was Rs270 million.
Justice Bandial said the BoI was doing only post office work in Rs270 million budget.
Justice Bandial asked the additional director to hire the services of neutral experts for the project and submit report in that regard.
He also directed the golf club chairman to complete accounts in four weeks.
Later, hearing of the case was adjourned for one month.