LAHORE: The Lahore Development Authority (LDA) hired the services of Colliers International, a real estate company for the sale or auction of the Park and Ride plaza on a commission in violation of government rules.

Under the relevant rules, the government can not hire the services of any company or agent on a commission basis for the sale of any public asset, a senior revenue official requesting anonymity, said.
The LDA, however, authorised Colliers to seek registration of potential buyers, in violation of the rules. Colliers was offered a 3 per cent commission from the total sale receipts of 80 shops and two restaurants of the new plaza, he added.Chief Minister, Shahbaz Sharif, is schedule to inaugurate the plaza in Liberty today (Wednesday).
According to the official, the LDA had also hired the services of Al-Imam as consultants while offering them 2 per cent over the total construction cost violating codel formalities outlined for the hiring of consultants.

A senior official of the LDA, also requesting anonymity, confirmed that LDA property rules did not permit hiring of consultants on a commission basis.

“But the LDA Land Disposal Rules were changed in a recent meeting chaired by the administrator, following which Colliers was hired,” the official told the Tribune.

Sohail Janjua, the LDA spokesperson, said that 11 companies had applied and Colliers was selected since they were the lowest bidders. The Land Disposal Act was amended and now allows hiring of marketing consultants, he added.

Express Tribune