1 min read

Imran govt sells 70 luxury cars

September 18, 2018

Islamabad, Sep 17: The cash-strapped Pakistan government on Monday sold 70 cars “above their market price” as it started the process of auctioning of 102 luxury vehicles of the PM House under Prime Minister Imran Khan’s austerity drive, a media report said.

Apart from luxury cars, the government, facing huge debts and liabilities, plans to auction eight buffaloes kept by deposed and jailed former prime minister Nawaz Sharif at the PM House for his “gastronomic requirements”, a senior aide to Khan said last week.

It will also sell the four surplus helicopters lying unused with the Cabinet Division, Naeem-ul-Haq, the Prime Minister’s Special Assistant for Political Affairs, said.

A man writes down the details of a government owned car on sale during an auction at the premises of Prime Minister’s House in Islamabad. (REUTERS)

Speaking to reporters on Monday, information minister Fawad Chaudhry said the first batch of 70 vehicles have been sold.

“These cars were sold above their market price,” Chaudhry claimed.

He added that vehicles which are classified as protected (bomb and bullet-proof) would be sold next.

The cars that are being auctioned include four recent models of Mercedes Benz, eight bullet-proof BMWs, three 5000cc SUVs and two 3000cc SUVs of 2016 model.

A woman with her child visits an auction of government owned used cars at the premises of Prime Minister House in Islamabad. (REUTERS)

Twenty-four 24 Mercedes Benz of 2016 model are also being auctioned. Two of the 28 cars are 4,000cc bullet-proof vehicles, the report said.

Further, 40 Toyota cars, a Lexus SUV, and two Land Cruisers are also up for auction.

Other vehicles that are being auctioned include eight Suzuki cars, five Mitsubishi vehicles, nine Hondas and two jeeps.

The cars will be sold to those who have the highest bid, the report said.

In his first address to the nation, Prime Minister Khan had emphasised on cutting government expenditure. As part of the cost-cutting initiative, he had announced the auction of surplus PM House vehicles.

People visit an auction of government owned used cars at the premises of Prime Minister House in Islamabad, Pakistan. (Reuters Photo)

Pakistan’s debt and liabilities rose sharply to nearly Rs 30 trillion or 87% of total size of the economy at the end of previous fiscal year, according to media reports.

Statistics released by the State Bank of Pakistan (SBP) last month showed that in the last five years, Pakistan’s total debt and liabilities increased Rs 13.5 trillion or 82.8% to stand at Rs 29.9 trillion. Five years ago, Pakistan’s total debt and liabilities were Rs 16.4 trillion, the Express Tribune reported.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)

Discover more from The Kashmir Monitor

Subscribe to get the latest posts to your email.

Don't miss a beat! The Kashmir Monitor delivers the latest Kashmir news, sports highlights from every league, political updates, entertainment buzz, and tech innovations happening right now.

Leave a Reply