Close X
Friday, January 10, 2025
ADVT 
International

From Selling BMWs To Buffaloes, How Imran Khan Is Tackling Pak's Debt

IANS, 18 Sep, 2018 01:17 PM
    The cash-strapped Pakistan government on Monday sold 34 cars as part of an auction of 102 luxury vehicles, including some bullet-proof ones, as part of Prime Minister Imran Khan's austerity drive.
     
     
    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 Mr 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.
     
     
    Thirty-four non-imported cars have been sold so far during the action, Geo News reported.
     
     
    In the second phase of the auction, 41 imported cars will be sold, it said.
     
     
    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.
     
     
    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.
     
     
    Pakistan's debt and liabilities rose sharply to nearly Rs. 30 trillion or 87 per cent 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 per cent 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. 

    MORE International ARTICLES

    Indian NRI Tojo Mathew Wins 7 Million Dirham Lottery Before Leaving UAE

    Indian NRI Tojo Mathew Wins 7 Million Dirham Lottery Before Leaving UAE
    An Indian man won a 7 million dirham ($1.9 million) lottery for a ticket he purchased at the Abu Dhabi International Airport just before boarding a flight for India, a media report said on Wednesday.

    Indian NRI Tojo Mathew Wins 7 Million Dirham Lottery Before Leaving UAE

    US Seeks To Denaturalise Indian-Origin Man Khaleel Ahmed Convicted Of Terrorism

    US Seeks To Denaturalise Indian-Origin Man Khaleel Ahmed Convicted Of Terrorism
    The US has filed a lawsuit in a federal court in the Northern District of Illinois seeking to revoke the American citizenship of a 37-year-old Indian-origin man convicted of terrorism.

    US Seeks To Denaturalise Indian-Origin Man Khaleel Ahmed Convicted Of Terrorism

    Indian-Origin Lawmakers Ask UK PM To Intervene In British Sikh Jagtar Singh Johal’s Arrest

    Indian-origin MPs are among 70 lawmakers in Britain lobbying Prime Minister Theresa May to intervene at the “highest levels” with the Indian government over allegations of torture against a British Sikh murder suspect lodged in a Punjab jail.

    Indian-Origin Lawmakers Ask UK PM To Intervene In British Sikh Jagtar Singh Johal’s Arrest

    'Leave For India Or Convert To Islam': Afghanistan's Sikhs Weigh Future After Islamic State Terror

    'Leave For India Or Convert To Islam': Afghanistan's Sikhs Weigh Future After Islamic State Terror
    The Sikh community, which now numbers fewer than 300 families in Afghanistan, are split about their future in the country. Some believe they cannot live there anymore while others say they will not be cowed down by the militant Islamic State.

    'Leave For India Or Convert To Islam': Afghanistan's Sikhs Weigh Future After Islamic State Terror

    US: Suneel Gupta, Brother Of CNN's Sanjay Gupta, Running For Congress

    US: Suneel Gupta, Brother Of CNN's Sanjay Gupta, Running For Congress
      Suneel Gupta, an Indian-origin entrepreneur and younger brother of America’s top medical correspondent Dr Sanjay Gupta of the CNN, is seeking to enter the House of Representative from Michigan.

    US: Suneel Gupta, Brother Of CNN's Sanjay Gupta, Running For Congress

    'Afghans Will Do Anything It Takes To Have A Sikh Leader In Parliament'

    Afghanistan's Ambassador to India Dr Shaida Abdali has condemned the recent Jalalabad suicide bombing that killed 19 people, including 17 Afghan Sikhs.

    'Afghans Will Do Anything It Takes To Have A Sikh Leader In Parliament'