Close X
Saturday, December 14, 2024
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

    Dutch Anti-Islam Lawmaker Cancels Prophet Muhammad Cartoon Contest

    Dutch Anti-Islam Lawmaker Cancels Prophet Muhammad Cartoon Contest
    Dutch anti-Islam lawmaker Geert Wilders has cancelled a scheduled Prophet Muhammad cartoon contest in the capital here in November following widespread protest in Pakistan that raised concerns over security to the participants.

    Dutch Anti-Islam Lawmaker Cancels Prophet Muhammad Cartoon Contest

    UK Exporting Naan To India Shows Spirit Of Post-Brexit Britain: Minister

    UK Exporting Naan To India Shows Spirit Of Post-Brexit Britain: Minister
    "We are in a terrific position to take advantage of the new trading horizons open to us after Brexit," Liz Truss said.

    UK Exporting Naan To India Shows Spirit Of Post-Brexit Britain: Minister

    Kartarpur Corridor Cannot Be Considered In Isolation: Pakistan

    Kartarpur Corridor Cannot Be Considered In Isolation: Pakistan
    A day after Indian High Commissioner Ajay Bisaria visited the Kartarpur Sahib Gurdwara, where Guru Nanak Dev spent 18 years of his life, Pakistan added riders to the possibility of opening the Kartarpur corridor. 

    Kartarpur Corridor Cannot Be Considered In Isolation: Pakistan

    Pakistan Minister Bans ‘Vulgar’ Movie Posters In Punjab Province

    Pakistan Minister Bans ‘Vulgar’ Movie Posters In Punjab Province
    The minister further warned that if any cinema house resorted to displaying such "vulgar" posters, they would be fined first and upon subsequent violation, the theatre would be shut down.

    Pakistan Minister Bans ‘Vulgar’ Movie Posters In Punjab Province

    Imran Khan Government To Prepare Proposal To Resolve Kashmir Issue

    Imran Khan Government To Prepare Proposal To Resolve Kashmir Issue
    In his victory speech last month, Imran Khan expressed his willingness to improve Pakistan's ties with India

    Imran Khan Government To Prepare Proposal To Resolve Kashmir Issue

    Buddhist Monk Arrested In Bodh Gaya For Alleged Sexual Abuse Of 15 Boys

    Buddhist Monk Arrested In Bodh Gaya For Alleged Sexual Abuse Of 15 Boys
    The monk ran an institution in Mastipur village in Bodh Gaya where the 15 children - all from the Karbi Anglong district in Assam - were studying.

    Buddhist Monk Arrested In Bodh Gaya For Alleged Sexual Abuse Of 15 Boys