LAHORE: An agreement was signed between Pakistan Railways (PR) and Pakistan State Oil (PSO) regarding land rent on Monday.

According to details, Pakistan Railways had leased some parts of its land to PSO since 1982 which was being used by Pakistan State Oil to store its oil reserves. Matters were pending in both the institutions for fixing the rent of 15 places.

In this regard, the legal teams of both the organizations drafted the agreement which was signed by AGM Infrastructure Arshad Salam Khattak of Pakistan Railways and GM Operations PSO, Atif Siddiqui.

Muhammad Hafeez Ullah, DG Land Pakistan Railways, said that the agreement was based on mutual trust between the two institutions and will help in restoring the confidence of both sides.

Copyright Business Recorder, 2022