The Pakistan Post
Daily News Publishing Portal

21 unused state properties auctioned over PM’s directives: ministry


ISLAMABAD: The Ministry of Privatisation has confirmed that 21 out of 26 unused state properties were auctioned following the directives of Prime Minister Imran Khan, ARY News reported on Wednesday.

The spokesperson of the Ministry of Privatisation said in a statement that the auction process of unused state properties is underway over the premier’s directives. It added that the ministry completed the auction of 21 out of 76 unused state properties in Islamabad, Lahore, Gujranwala, Faisalabad and Vihari.

The properties had been auctioned on more than reserve prices which generated an income of over Rs1 billion for the national exchequer. The public funds will be used for paying off debts and poverty alleviation.

Read: Federal Cabinet green lights privatisation of Pakistan Steel Mills

The ministry also provided details of the auctioned state properties in its statement. The land belonging to aviation worth over Rs5.7 million in Vihari was auctioned against over 16.7 million.

The spokesperson added that the ministry will auction four more properties in Rahim Yar Khan, Nawabshah, Abbottabad and Lahore. The reserve price of the government land belonging to Republic Motors Limited at Mall Road is around Rs5 billion which was declared suitable for investment.

In December last year, PM Imran Khan had issued directives for putting to good use non-utilised properties of government departments and institutions for the welfare of the people.

Read: Govt decides to expedite process of privatisation

He had said income earned from these unused properties will be spent on the welfare of the masses and improvement of basic facilities such as schools, colleges and hospitals.

PM Khan had pointed out that different departments of the federal government are facing losses of billions of rupees annually despite owning such assets. He slammed past rulers over their alleged criminal negligence by not using state-owned properties for public welfare.

He had cautioned that strict action will be taken against officials who will not identify such properties or create hurdles in their proper utilisation.



Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More