PCB submits proposal to DGDE seeking commercial leasing of Golibar maidan

Faced with the worst financial crisis in its history, the Pune Cantonment Board (PCB) has decided to monetise its vacant, underutilised land assets to meet its burgeoning revenue deficit of over Rs500 crore

Faced with the worst financial crisis in its history, the Pune Cantonment Board (PCB) has decided to monetise its vacant, underutilised land assets to meet its burgeoning revenue deficit of over Rs500 crore. The board administration has submitted a proposal for the asset monetisation of Golibar maidan, seeking its lease for a period of 30 years.

PCB seeks permission to lease Golibar maidan for 30 years. (Rahul Raut/HT PHOTO)

Due to shrinking central funds and non-refund of GST dues pending since 2017, the board is finding it difficult to run daily affairs and citizen governance. Former administrators, too, had signalled that the board had already entered bankruptcy phase and that all civic amenities had been thrown out-of-gear.

Chief executive officer (CEO) of the PCB, Subrat Pal, confirmed to Hindustan Times that in the wake of the ongoing financial crisis, the board has prepared a proposal for asset monetisation of its real estate. “The asset monetisation programme entails leasing out underutilised vacant assets on a priority basis to seek revenue for the board to tide over the financial crisis. The board will benefit by leasing out top-level assets which will bring in much needed revenue for the board. The proposal has been submitted to the director-general of defence estates (DGDE) office, seeking change of purpose of Golibar maidan land. After getting the necessary approval, the tendering process will begin. The board does not have the power to change the purpose of the land and the proposal has been submitted to the competent authority for approval. Such projects are called remunerative projects which can be commercially developed for bringing revenue for the board and the same can be utilised for development projects,” he said.

Cantonment experts are of the view that if given on short- and long-term leases to private parties for commercial gains, surplus, unused and underused non-core assets in the nature of land and buildings in the cantonment area can lead to robust revenue generation for the board administration.

Whereas advocate Netraprakash Bhog said, “Once Golibar maidan is leased to private hands, it will be the end of the public amenity and will lead to the rise of private control of public assets. Where will the children go to play and where will citizens take their morning and evening walks. The government wants to monetise the unutilised land and generate revenue but this will lead to denial of public freedom. Once it is leased out, it becomes a private property and there is need for a public amenity space in every city and state.”