Tenants rent out RCB shops on exorbitant rates

Tenants of over 700 shops owned by Rawalpindi Cantonment Board (RCB) have clandestinely rented them out further at exorbitant rates, paying nominal rent to the board in return for years.

Sources said that several tenants have not paid the rent to the board for the last six months. These properties of the RCB are in different markets of the Saddar area, including Mall Plaza, Ganjmandi and Railway Road.

According to the sources, the tenants have outsourced these properties at higher rates but paying nominal rent to the board.

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The tenants pay 500 to Rs 7,000 in rent to the RCB but collect times hire rates from the shopkeepers, who have been rented out the properties.

The practice is on the rise at Mall Plaza, which has several foreign currency exchange shops.

RCB Spokesperson Qaiser Mehmood said that a committee has been formed for the resolution of the dispute. He said the board was finding a solution with the traders.