A steep decline was observed in the revenue collection from the parking sites in the first month of the inception of the Lahore Parking Company (LePark), Pakistan learnt on Thursday.
“LePark failed to generate even fifty percent of what the City District Government Lahore (CDGL) used to collect,” sources told Pakistan Today.
The LePark, which had initially been handed over eight parking sites by the CDGL, would gradually take over all the parking sites of the metropolitan. “The revenue would further decrease, and can never equal the amount generated by the CDGL,” the source said. The CDGL officials also claimed that the revenue collections at the eight parking sites had decreased gravely since LePark took over. CDGL officials said that the revenue generated from Pace (Gulberg) fell from Rs 10, 000 per day to Rs 3, 500 per day, Nila Gumbad’s revenue fell from Rs 10, 000 to Rs 3, 000, EFU, Rs 1, 700 to Rs 300, Empress Road, Rs 1, 700 to Rs 10, 000, State Bank (Mall Road), Rs 4, 000 to Rs 600, Moon Market (Iqbal Town), Rs 7, 000 to Rs 1, 700 and Barkat Market, Rs 2, 300 per day to Rs 1, 500 per day. However, LePark officials told Pakistan Today that they were now generating more than Rs 300, 000 per day from the eight parking sites. Per the agreement between CDGL and LePark, 75 percent of the revenue would be given to CDGL and rest of the 25 percent would be used as the operational expense of the LePark.
The fall in the revenue generation had given rise to questions on the future of the company. LePark may also be scraped like the many other projects initiated by the chief minister.
