the goan I network
MARGAO
The Margao Municipal Council will be richer by around Rs 20 lakh annually by way of rent as the civic body signed a lease deed with Bharat Petroleum Ltd on Monday.
That’s not all. The Municipality will earn a revenue of Rs 45 lakh from the petroleum company by way of arrears.
MMC Chief Officer Sidhivinayak Naik signed the lease deed with officials of Bharat petroleum Ltd before the Sub-Registrar on Monday. The Chief officer informed that two Bharat Petroleum pumps are operating in the city on land belonging to the civic body.
He pointed out that the civic body did not revise the lease rent for the last 25 years. “We have been in discussions with officials of the company in recent times, culminating in the signing of the lease agreement on Monday,” he added.
While one of the fuel pumps will pay an annual rent of Rs 10.43 lakh, the civic body will receive a rent amounting to Rs 9.21 lakh from the second fuel pump. The Chief Officer informed further that the civic body is in discussions with other petroleum companies to revise the annual rent payable to the municipality in lieu of doing business on its property.
