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Pakistan sitting on billions worth of 'dead capital' in form of govt-owned land: PM

Dawn.com Published September 10, 2018
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Prime Minister Imran Khan on Monday said Pakistan is sitting on hundreds of billions of rupees in "dead capital" in the form of state land and rest houses and official residences built on that land.

The premier took to Twitter to share figures extracted from data he received regarding 90 per cent of government-owned land in Punjab, Khyber Pakhtunkhwa and the federal areas, and buildings constructed on the estates.

According to figures cited by PM Khan, 34,459 kanals of the state-owned land is located in rural areas while 17,035 kanals is in urban areas.

"Just the urban land with buildings is worth over Rs300bn!" Khan wrote.

Suggesting that this money could be used for other purposes of public interest, the prime minister said: "A country that has to borrow money to pay interest on its loans[...] is sitting on huge amounts of dead capital in the form of this govt-owned land with buildings."

Also read: Govt mulls over ‘tough decisions’, public anger

The loans that the country has been taking are burdening its future generations, Khan said, noting that the daily interest liability is a whopping Rs5bn.

The premier's statement comes amid an austerity drive undertaken by the Pakistan Tehreek-i-Insaf-led (PTI) government to try and cut down on expenditures.

At a meeting of the newly formed Economic Advisory Council (EAC) last week, radical steps were discussed to curb imports, including a year-long ban on imports for cheese, cars, mobile phones and fruit that could “save some $4-5 billion”, according to Ashfaque Hasan Khan, a university professor who is one of more than a dozen EAC members.

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rizwan
Sep 10, 2018 02:37pm
This PM needs lot more education on what to focus on and what not. State Government is the ultimate owner of entire land and every inch of the country as such what is he trying to say here ?
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Khan
Sep 10, 2018 02:40pm
Please don't lay waste to this state land and resources. Our history is littered with examples when resources gathered in the name of austerity and debt servicing were gathered and later on thrown away. Just focus on the imbalances with in the budget and the state land in the capital that should suffice...
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omer
Sep 10, 2018 02:43pm
Well Prime Minister is telling the truth, but will this land end up in the hands of needy poor people or it will increase the wealth of rich billionaires of Pakistan. One of the bidder will be Jahangir Tareen.
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Sami Ullah
Sep 10, 2018 02:46pm
This guy is candid about the state of the economy and where potential lies and at the same time points to where its been plundered! Keep going as we have to sacrifice to keep it right.
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SHAHID SATTAR
Sep 10, 2018 02:49pm
Planning for the future is a good idea, but cares must be taken about the future requirements of the government as well about this land as the prices of the same are bound to increase with the passage of time. The first and foremost step should be to retrieve any land of the government occupied by any one who is not entitled to the same. Proper laws created and followed could help in this instance.
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Mike
Sep 10, 2018 02:54pm
Wrong economics Pakistan is facing problem of balance of payments which is due to current account deficit. Now Pakistan is a country which imports 85%of oils and gas. Ask ur Pakistani people to shift towards renewable energy or else use the land for promotion of FDI
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Laal
Sep 10, 2018 02:55pm
It is the same advisor with same lan and recap of musharaff era. Utility stores and fire sale privatization. Ever wonder why it's worth 300 billion? Because nobody sold it.
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Bill
Sep 10, 2018 02:55pm
Good, because asking overseas Pakistanis for money won't work well.
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Zaidi
Sep 10, 2018 02:57pm
PM, please improve the tax collecting method for enhancing the government income.
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M.Mudassir Siddiqui
Sep 10, 2018 02:57pm
Visionary leader but needs to be quick and careful
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Mohiuddin
Sep 10, 2018 02:59pm
We need money for debt payments. It does not matter who bids for the said land.
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ALI ASAD NAWAZ MALIK
Sep 10, 2018 03:06pm
@rizwan Government is not the owner of entire land of country. Yes, it can acquire any piece of land when required under the land acquisition law. Therefore, PM is write in stating that such huge resource is lying waste (distributed among military/civil bureaucrats at the end of their service as reward). When Government can acquire any land at any time when needed then why hold on to vast stretches of land? Sell/Lease/Rentout those or put to some commercial use that can generate resources.
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Raj
Sep 10, 2018 03:12pm
Selling assets to pay back debt is a perfect recipe for disaster!
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Adnan Mazher Khan
Sep 10, 2018 03:18pm
Keep a focused approach Mr. PM. I see deliberate efforts to keep you away from core issues such as health, education and infrastructure development.
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Ahmed
Sep 10, 2018 03:19pm
@rizwan Good observation. The urge to tweet needs some control
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wachucha
Sep 10, 2018 03:21pm
Dear IK, Please don't turn Pakistan into a real estate scheme and sell it over by the plots and urban buildings. It is essential for the state to hold the land. Please don't find permanent solutions to temporary problems.
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Anurag Gautam
Sep 10, 2018 03:27pm
PM seems to be totally inexperienced I must say, honesty may be good but you need overall exposure and experience to govern a big state such as Pakistan. If not mistaken current PM even do not have experience of handling a Pakistani state I mean Kabher Pakhtunkha.
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akber_eh
Sep 10, 2018 03:33pm
What's PM hinting to do here?? sell land to China or some other country?? you wan to repeat Palestine model in Pakistan? this country needs mature policies..
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Bilquees
Sep 10, 2018 03:37pm
Perhaps these lands can be given on lease and earn money. Better than getting loans from abroad.
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NACParis
Sep 10, 2018 03:39pm
PTI Government should focus on encroached land. If building have been put up the owners should be asked to pay the compensation even if they have acquired through corrupt means. Agree that importation of second hand cars, telephone etc should be banned for a year to save dollars to repay loans. Pakistan need every rupee to reduce circular debts and save institutional assets.
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malik humayoun
Sep 10, 2018 03:43pm
Import ban should be on all common item which are locally manufacturing. like Artificial Leather and shoes of all types and fabric related item clothes home appliance kitchen item etc
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M.Hamza Bokhari
Sep 10, 2018 03:45pm
I see most of the commentators are just getting too skeptical rather than reading what he wrote. PM has just highlighted the fact that this land is owned by government as "dead capital land including offices".
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khan
Sep 10, 2018 03:45pm
doing EVERYTHING except increasing the tax base.
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Lubnakhan
Sep 10, 2018 03:51pm
We import fruits
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Perplexed
Sep 10, 2018 03:53pm
Can you concentrate on expanding the tax base? Hardly any entrepreneur, mostly shop keepers declare any income that's taxable. By depositing sales tax collected on goods from customers to the govt, they think that they are paying tax! There is no accountability of paying taxes on the profits earned over the year and they are able to buy new cars and invest in properties with this tax evaded income causing further inflation and higher prices in the country. Bringing these into tax net will not only increase tax collection, it will also help in fighting other economic evils that are a consequence of this tax evasion.
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Khalid
Sep 10, 2018 03:56pm
Ban on imported cars (hybrid, 660cc), will result in increase in, production and Price, locally produced cars which are totally petrol/diesel, least environment friendly.
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Z
Sep 10, 2018 03:56pm
How much of it is declared as "Cantonment" area?
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Ijaz Ahmad
Sep 10, 2018 03:57pm
@khan Dear that is what PTI is mater of: "Confuse the already confused" and get away with your U-turns and all other incapacities. ;)
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Abid
Sep 10, 2018 04:00pm
Who's going to buy the land?? PM doesn't understand every resource isn't worth investing. There seems to be a lack of clarity on part of this govt. On one hand it talks about non dependence yet on other hand it wants land to be sold. What's in it for prospective buyers?? Land valuation doesn't mean by default it will be purchased at same price, mind you
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Jjacky
Sep 10, 2018 04:01pm
@M.Hamza Bokhari tell ur PM to take action rather than twitting. Yout PM has full powers to end corruptiom and bring back country on right path. Twitter will not going to help him.
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Perplexed
Sep 10, 2018 04:01pm
You have to take measures that are sustainable. Donations by overseas Pakistanis would dry up as most can't cough up enough in the long run. Similarly, such state resources will also last till a certain limit, and would also result in lowering prices as then it'll be a buyer's market and only rich could afford to buy large properties. Instead use this property to expand housing in the country, invite developers to invest and build houses here for a piece of profit. While keeping a share in housing equity, sell 50-75% equity to first time buyers only to facilitate them to be home owners. This will also strengthen economic activity in industries associated with housing and generate tax income for the government.
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AD
Sep 10, 2018 04:02pm
As per all the experts, the country is at the brink of an economic crisis if not already in one. The time is essence for any remedial measure. The incumbent FM himself said that we may have to act in weeks rather than in months. Under this situation, these seems to be diversionary. Have not heard much about steps to cater to worsening imbalances. What Pakistan immediately needs bolstering the forex reserve to pay for imports and service the debt. Even if worth Rs 300 billion or more, how will it get monetized.
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Saif Zulfiqar
Sep 10, 2018 04:05pm
This mess has been created by the corrupt PMLN and PPP governments.
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Tzaman
Sep 10, 2018 04:06pm
300 billion rupees is enough for Pakistan. Please get into real governing world. These beating about bush are nice audio clip and nothing else. Our country needs itegrated concrete planning. Not middle class house cleaning.
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Amanzeb Khan
Sep 10, 2018 04:06pm
Its a fair point. The land should either be used for productive reasons or should be auctioned off.
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Ashok Saigal
Sep 10, 2018 04:13pm
Mr Prime Minister, appreciate your "out-of-box" thinking. Yes there are assets that can and should be monetised. But we must not sell off national assets to outsiders to meet short term needs and be saddled in the long term with Habentota (Sri Lanka) kind of situations where the Chinese now "own" part of Sri Lanka.
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Neo
Sep 10, 2018 04:13pm
@rizwan. Perhaps he is suggesting leasing out this land. Income can be generated.
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ZIA tAQDEES
Sep 10, 2018 04:14pm
If individuals can sit on billion of land (Bani Gala, Raiwind etc) what is wrong with others.
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Desi
Sep 10, 2018 04:15pm
This economic council is giving wrong advice to IK. selling government land and assets to fix current imbalance is not a good and permanent solution. You will get the money and use it to payoff interest, than what? No asset left, no source of income anymore. Instead of selling the land, try to give it to industrial use. Make it rent free or tax free for few years, let private sector are up factories on it and make that land productive. That will create permanent source of income and create jobs. Selling things is like putting a temporary band aid on a major wound which will not work.
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Amir Dewani
Sep 10, 2018 04:16pm
Priority wise, the 'dead capital' will not be smuggled out. The immediate need is to generate cash to be able to fill in the 'deficit gaps in your foreign exchange reserves. Please do first things first. Immediate need is to accelerate your industrial production. To accelerate exports of Pakistani products you have to be competitive cost wise, quality wise, and marketing efficiency wise. You need water, power, energy for the downtrodden industries. You must remove the trust deficit to encourage investors from within and without. You must accelerate tax recovery from the tax evaders by giving targets to the dumb officials in the FBR for recovery in the next ninety days. Provide jobs and opportunities to the young/educated boys/girls etc etc. Please entrap in your ECL the money launderers, tax evaders, smugglers etc. These are the priorities.
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BAXAR
Sep 10, 2018 04:23pm
@Perplexed "Bringing these into tax net will not only increase tax collection, it will also help in fighting other economic evils that are a consequence of this tax evasion." Actually they are already in the tax net and are already paying to the government. The government already know who falls in the tax net. The only problem is that it is not going into the government's pocket, but in the pockets of those collecting it. IK just needs to take their place and bring the collected money as tax, to the exchequer. Lots of people will be angry, but that is the price to pay if he wants to fulfill his dream. If he can't, he can keep on dreaming.
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Khaja
Sep 10, 2018 04:23pm
Do not sell government lands to private bidders. Half of Delhi's lands are owned by the Indian Government but never sold any property even in the time of severe financial crisis.
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imran
Sep 10, 2018 04:28pm
state land shouldn't be liquidated to private people for capital needs. it should only be used for rentals. Or perhaps better, give incentive to companies to built infrastructure and earn revenue as rentals and royalties. Disposing it off as a sale isn't a viable option, even above market value.
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Ravi
Sep 10, 2018 04:29pm
Is he going to sell govt lands to make money? Ridiculous. These are assets for development and not waste.
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Shah
Sep 10, 2018 04:31pm
@Mike Renewable energy is the future. Even highly industrialized countries with oil and gas reserves like Norway, Canada and Britain is talking about renewable energies like wind, solar and ocean.
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ShahNoor Syed, USA
Sep 10, 2018 04:31pm
IK should starts measures to get back billions worth of Government land that was systematically encaroached. Better yet clean-up of this mess should start from BaniGala.
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Khan baba
Sep 10, 2018 04:32pm
Don.t like the idea of selling the motherland to pay off debt.
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Shah
Sep 10, 2018 04:33pm
@Tzaman Exactly how is 300 billion Rs enough for Pakistan? The daily interest payments are 5 billion Rs meaning 300 billion Rs will cover 2 months of interest payments.
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IK
Sep 10, 2018 04:36pm
Intentions are good but his inexperience scares me. Pm of a country doesn't need to tweet if he is confident of an idea and if he is not despite all information and power at his disposal, how could he expect others to be
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Mahmood
Sep 10, 2018 04:37pm
@rizwan You are missing the gist of his argument. IK didn't say that government doesn't own the land, or shouldn't own any. What he meant is that land which is not producing revenue for the government or illegally used, should be sold to private sector to generate funds needed to pay down deficit and foreign debt.
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vb jee
Sep 10, 2018 04:39pm
Land allotted to Govt Institutions should not be sold. It can be used effectively by the institutions to start getting something out of it and further strengthen themselves.
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Still Concerned
Sep 10, 2018 04:42pm
yeah lets not sell everything we have please. make them into earning assets, that will be more productive then selling them now
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K Maliks
Sep 10, 2018 04:44pm
please don't consider selling state assets......it serves as collateral for the government against liabilities and foreign debt.
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Ravi
Sep 10, 2018 04:50pm
@Raj hundred percent true.
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AK
Sep 10, 2018 04:51pm
He has already fired economists. Now he wants to sell the Govt owned lands and buildings.How he will sell and whom he will sell.The monthly interest payment mm squeezing hiim very hard.
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Sarai Alamgir
Sep 10, 2018 04:55pm
He is thinking out of the box, but what worries me is that he may end up selling the land at not so competitive prices, some buildings and land are part of history, selling all of them will not be good for future governments, because they will end up building and buying more at much more hyped prices, again causing the tax payer to pick up the bill.
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Wadan Khan
Sep 10, 2018 05:02pm
Tax system it to be revised for all and black money outside the country should be subsumed into the economy of Pakistan.
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Taha
Sep 10, 2018 05:11pm
@rizwan What he is trying to say is that he plans to sell government land in prime locations in city and invest that money for poor people of Pakistan
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Observer
Sep 10, 2018 05:16pm
That is no creativity, Mr Khan. Not impressed.
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Usman Khan
Sep 10, 2018 05:30pm
@rizwan I think PM is highlighting this issue because he wants to utilize these idol land & buildings for public interest so they can generate huge revenues... PM is actually amazed that why previous governments have not tried to do the same in order to generate extra revenue for government.... After all, increasing tax base is not the only way to generate extra bucks...
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Iftekhar Hassan
Sep 10, 2018 05:31pm
I was and still I am a hardcore supporter of PM Imran Khan. However, so far I am not very impress with his statements related to economic issue. I was also disappointed regarding Ahmadi economist issue. He need to start talking about rapid establishment of industries in Special Economic Zones as well as modernizing existing industry to boost export. He need to talk about increasing 100% tax on "LARGE" land owning families, People who owns 25 acre or more agriculture land. He need to take steps to boost export.
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Arshad Ahmed
Sep 10, 2018 05:36pm
Its an excellent idea and brings to mind that the land between Karachi Airport down to Nursery should be utilized as an extremely lucrative high potential real estate. Government has been sitting on it for years and being in the heart of the city I cannot believe it serves any strategic purpose.
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Riaz Khan
Sep 10, 2018 05:40pm
Pay back time for the services of Jahangir Tareen ?
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Hafeez
Sep 10, 2018 05:42pm
@omer .. will end up in the hands of highest bidder. But first bring back the looted wealth from abroad. Mr. PM BILAWAL HOUSE Karachi is on encroached land and needs your attention too
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Shujaat Ali
Sep 10, 2018 05:45pm
My monthly household expenditure is RS.70000 but I have a Suzuki Mehran car for daily commuting valueing Rs.500000..Is this car "dead capital"???
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toomuchtymez
Sep 10, 2018 05:46pm
how about you build 5 million units of council housing on that land? why is your government hell bent on selling every single public asset? that was not the platform you ran on but this is all we hear now.
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Imtiaz
Sep 10, 2018 05:49pm
Terming land, which is a fixed asset as 'dead capital' is wrong. Selling all the urban land will not be sufficient to even pay off the interest on loans. Government should focus on economic restructuring and not get side tracked with non-issues.
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ABE
Sep 10, 2018 05:50pm
@Observer "That is no creativity, Mr Khan. Not impressed." Yeah, consider how 'creative' NS and Ishaq Dar turned out to be. They fooled the public for years, came to power three times, looted with both hands, while borrowing from IMF to finance their luxury lifestyle and invest abroad. I bet you were 'very impressed' by their creativity! You deserve to be with such con artists.
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Parth
Sep 10, 2018 05:51pm
As Long a nobody ran out on the road saying eureka eureka. It’s fine.
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Qaisar
Sep 10, 2018 05:52pm
No privitisation. U didn't let any govt do that. Why are you doing now after being in power.
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ahmedj
Sep 10, 2018 05:53pm
Dear Prime Minister, please keep this in mind to "Sell the Grass not the Land". Otherwise in the end we will lose everything.
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Wahab
Sep 10, 2018 06:00pm
So he does admit loans are desperately needed to pay off interest on other loans. Why all the bluster when the US said that IMF is not in the business of paying off loans to third party countries? They were right. All that nonsense of how CPEC loan repayments were insignificant and not affecting the economy didn't fool anyone, did it?
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Raj
Sep 10, 2018 06:01pm
If you sell all your assets to pay the interest for your mountain of debt, what will be left when it comes to paying back interest for CPEC!
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Guest
Sep 10, 2018 06:05pm
Chinese ans Saudis will be more than happy to pay top dollars. Then we can work in these farms and factories. Brilliant idea finally.
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Haty
Sep 10, 2018 06:11pm
There was news of oil being struck , what happened??
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desi dimag
Sep 10, 2018 06:13pm
What a visionary leader Pakistan has.
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khurshid Alam
Sep 10, 2018 06:14pm
Genius!
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M1 Jamal
Sep 10, 2018 06:19pm
Please ask the general public to work honestly,work hard,change to positive attitude, nothing in life is easy and fight for your legal rights.Being the captain put momentum in them.
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Critic and dreamer
Sep 10, 2018 06:23pm
Amazing how disjointed the PM appears. The figures that have been published by him again appear to be fictional to be polite. Is his focus to follow the CJPs agenda? Dams, property etc etc. I wish he would heed to his economic advisors advise!!! As there is no way this would form so much focus. Gov land and buildings are an essential part of governance, if Gov sells and makes 300billion, where will the staff required for the sale operate out of? No the right advise to generate income. Generating income in a desperate panic as shown by PM will not lead to success. It's just too desperate! Wonder who will buy gov buildings!! IK needs good advise! Someone please ask him to get off Twitter to start with!
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Dr.M.S.Awan
Sep 10, 2018 06:25pm
I believe PM is moving in the right direction.Hong Kong is one country that regularly holds open auctions of state owned land to raise money.But the process is very transparent.Government sets a bench mark price and then the bidding starts and piece of land is sold to highest bidder.We could use this model for fund raising in Pakistan.
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Al
Sep 10, 2018 06:33pm
Get rid of the land and all rest houses forthwith and deposit the money in the treasury ,the government servants are not prince or princess they are there to serve the countrymen and women why should they be given special privileges,let them pay their rents in hotels. The colonial power built these rest houses for their extra curricular activities, it is high time this is stopped and money collected be invested in dam's Medicare and education etc.
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saber
Sep 10, 2018 06:34pm
Already has enough VAT, no more taxes for poor.
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Shehzada Rana
Sep 10, 2018 06:47pm
Please 1st make a plan how to bring money from outside. Take a decisive action to bring the looted money back, to launch a couple of housing units schemes for overseas Pakistanies etc.
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SQ
Sep 10, 2018 06:47pm
All talk, no action so far.
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Ahmed
Sep 10, 2018 06:51pm
Aleem Khan will be very suitable person to take care of state properties.
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Waseem
Sep 10, 2018 06:54pm
After reading the article and the comments, I realized, people were expecting a miracle by IK that didn't happen in a full month so they are getting frustrated with petty actions govt. is taking. The government's issue is how to run business without money as all of the income is being consumed by debt servicing and security. CPAC has not started not laying so called "golden eggs" yet. Realistically, It is trying to create some fiscal space by collecting pennies but people want billions overnight. Now I understand why Dar opted a policy of borrowing money from every where and distributing it among people as it is free. Dear commentators, please imaging a situation you have been handed over a business for 5 years that is generating gross revenue of 1 million per year while spending 2 millions in that period, along with a loan of 10 millions that requires 1 millions interest to be paid every year. Yes you have a receivables of 20 millions that current and previous staff stole from the shop and ran away. You have an idea of who the shop lifters are but don't know exactly and don't know where the stolen money is. Give me suggestion what will you do in first month to convert this business to a profitable and start improving lives of your family? PTI didn't get something to rejoice, it is "kantoon ki saij". If you make me the prime minister of this country, I will die the very next day with stress. I know macro economics is much more complex then a small business but still this analogy can help us somewhat understand our current situation.
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Sheikh Sa'adi
Sep 10, 2018 06:59pm
The only thing common between Intelligence and Imran is the letter I. Imran is full of I.
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Z
Sep 10, 2018 07:01pm
Dear IK, follow few points. 1. Fix Railway system and run more green buses mass transit like uber pool service will save less cars on roads as well. 2. place a temporary ban on petrol/diesel cars like neighbouring country did ODD and EVEN number plates. 3. Creat a special Traffic devision who inspect cars, if cars are unfit for roads than fine and increase Gov revenue and other side saving fuel as well. 4. Build cycling tracks next to roads and encourage people to use bicycles which will decrease health bill and fuel too. You don't need much money taking above steps. Better stop twittering and just do it. Some steps will reduce Fuel consumption to 50% and save billions $.
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venkob
Sep 10, 2018 07:02pm
Well, it is certainly a bad idea to sell govt land but given situation, create govt bond specific to these lands and ask overseas Pakistanis to buy. This will certainly better option than asking them to send $1000 for free. Govt can retain ownership when it got money. At least it will not go to wrong hands.
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kashif Hanif CH
Sep 10, 2018 07:03pm
this dead capital should be converted into working capital for public well being....
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hani
Sep 10, 2018 07:04pm
Sure 300 billion is a lot of money but it's less than 1/3rd the circular debt accumulated to date. PSE debts are an additional 1 trillion. Besides how much of this land is under the control of the government and how much has been encroached upon? How much of the land that is under government control is in use by government departments and as such can't be sold? These things need to be considered as well.
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hani
Sep 10, 2018 07:06pm
I don't know why the government hates mobile phones and telecoms so much that they are talking of banning mobile phone imports. Mobile phones increase labour productivity so it will hurt economic growth if they are banned.
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AKB
Sep 10, 2018 07:08pm
Dear PM, the first thing to start with is to get hold of the people who plundered the money and are responsible for the huge debts against the country. Please have a team for the speedy recovery.
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Saad Khan
Sep 10, 2018 07:31pm
@omer Jehangir Tareen is the top most tax payer of Pakistan, Sharifs have hired more than 100 qualified auditors to find any wrong doing or tax evasion by Tareen, didn't find anything, lastely, Shahbaz Sharif blamed, he got lot of debt forgiven, Mr. Tareen went to State Bank of Pakistan and asked, if there is any debit forgiven items agains him, nothing, State Bank issued a clearance letter to Jehangir Tareen. Please tell me who stopped Sharifs not to invest in Pakistan and become the biggest tax payers of their own country if they claim Pakistani???
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Bilal
Sep 10, 2018 07:32pm
Everyone knows that. Nothing new. Please tell us your plan to payback debt
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Farid Qalander
Sep 10, 2018 07:33pm
If the government seized the wrongly acquired asset for Nawaz Sharif's family, the Zardari clan, and other corrupt entities, there would be more than enough money for funding economic development. Why is the current government scared?
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Texan
Sep 10, 2018 07:34pm
Looks like IK is still in the opposition and his job is keep pointing problems and mess Zardari and Nawaz created. Pointing toward peanuts like saving from not living in PM or governer houses, asking for donation, or selling $1b land is not what this country needs as a priority. Bringing looted money back is also important which he seems to be doing. He should have laid out radical and innovative ways to address the real problem by now. He needs people who know how to grow GDP and exports. Grow agriculture at double digit rate and industrialize at a rapid pace. Renegotiate debt/terms with Chinese. Turn state owned enterprises from losses to profit. He has yet to show a concrete plan and people around him are not experienced in doing what's needed. I am afraid, he will miss this opportunity for change and lose the mandate he has.
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Amjad Wyne
Sep 10, 2018 07:34pm
PM is wrong - the billions Pakistan needs are the billions that were looted.
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Alla Bux
Sep 10, 2018 07:37pm
Rs 300 billion is just $2.5 billion. Not much. Is that trillion?
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Amjad Durrani Engineer USA
Sep 10, 2018 07:47pm
One fails to understand that who is feeding such information to the PM, firstly to go after laundered money & now to auction govt. owned real estate, to raise funds in order to meet urgently needed current account deficit of $18B. Both of these measures, although correct to pursue, are a time consuming, & we can’t to waste few crucial months available to take drastic measure in fund raising, one of which is going to IMF, put conveniently at the back burner.Listening to these novels ideas, how to fix sinking economy, day in & day out during last three weeks caused due to conflict within the party ranks, is sending cold shivers to the spine, & confirms the fact that the country has become hostage to novices, who having no clue to bringing out a workable fiscal curing policy/plan, are bent upon creating uncertainty & jitters within business community, to cause further delays in investment, thus affecting our credit worthiness.We definitely need a fiscal policy to tackle our financial woes
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Jay
Sep 10, 2018 07:48pm
Good to know all that. Thanks to IK. No other government even bothered to educate people before. IK has been educating public of their rights along his campaign. Obviously he is disturbed by this waste and wants to do something good for public with these resources. Look what was built on this land , that had nothing to do with public interest rather their own.
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Shafiq Shah
Sep 10, 2018 08:04pm
I strongly disagree selling public property. Build it and use it for regular income. Bring reforms in the tax collection system and collect taxes from the people who are not paying taxes (Rs.300 billion is not much)
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umar farooq
Sep 10, 2018 08:13pm
but the PM should knows that these buildings are serving the national interest. For example if LDA offices buildings, Lahore Metropolitan Corportation, Punjab government offices will not be there where the people will go to solve their problems. It is useless exposing PM poor vision. Sorry to say. first PM has the claim it will sold out the Governor Houses of all four provinces but now U-turn has been taken that the Governors house will be opened for the public to visit.
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DifferentPerspective
Sep 10, 2018 08:21pm
@rizwan - you have missed his point completely. Look at Europe and other developed countries. They monetized/sold all unnecessary state assets to ease the public debt burden and to fund projects of national interest. Pakistan needs to do the same.
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Lahori kid
Sep 10, 2018 08:21pm
I disagree, you cannot start selling government owned land to over come financial issues, find better people to run the institutions, sell all the jets, cars, homes the government owns, not the land.
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Aravind
Sep 10, 2018 08:22pm
IK is getting citizens mentally ready for the ultimate truth that Pakistan will have to sell it's lands to Chinese to pay off the interest and principal of the CPEC loan.
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Lahori kid
Sep 10, 2018 08:22pm
The government can save millions per month by not allowing the families using official cars, how about that?
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Kamran
Sep 10, 2018 08:33pm
Dear PM, 1- Winter season is coming, please avoid generating electricity with costly fuel. We nation will bear load shedding to support you. It will reduce import bill. 2- Total Ban on Smart Phones for one year, because everyone has already phone and no need for people to upgrade their models for one year. 3- Ban on gutka, tell nation to drink less tea for six months, ban on imported cars for one year. 4- Check telecommunication companies for their frauds and take money from them. They are not investing on research and development which is 3% of their income. 5- Sell Gawadar plots to oversees Pakistanis and make it very clean deal.
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Ahmed RaA
Sep 10, 2018 08:41pm
Whenever I hear PM Imran Khan I feel relief in my mind. We are very hopeful and we are sure that this man can put the country on a right track
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Raza
Sep 10, 2018 08:54pm
Huge military land can be taken over by the government and alternate land may be allotted as the land can be sold in open market to raise funds.
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Marghoob Ahmed Siddiqui
Sep 10, 2018 09:09pm
I think we all know the problems of Pakistan but what are the solutions. What Imran Khan suggest to do with this land and buildings? Add to the wealth of already rich people and make the Government poor or any good suggestion? I had once suggested to make Agricultural force and bring the uncultivated land under cultivation and export the produce. Also introduce Drip Irrigation system. It will save wastage of water and increase yield per acre. Some one should think seriously on it. It is going to generate employment opportunities, use land lying uncultivated and earning through export. Pakistan is an Agricultural country and its survival is on Agriculture not Industry.
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Mir
Sep 10, 2018 09:17pm
IK on the right track! Ensure safety and security of investments, people will flock to the real-estate market; there are ideas galore to attract people and investments, from technology applications to innovative tax free schemes to tourist spots development etc.
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Mansoor
Sep 10, 2018 09:17pm
Privatization is on its way.
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Bravo
Sep 10, 2018 09:17pm
These are our assets dnt sale them to Aleem khan & JKT.Its amazing how it is labelled as Dead capital.Britishers saved it for posterity;our forefathers kept them safe..
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PAKISTANI AMERICAN
Sep 10, 2018 09:18pm
What you think, the previous rulers did not know about it???? The surely knew that but no one sell his assets to pay off debt -- bad economics Mr. PM.
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abbastoronto
Sep 10, 2018 09:20pm
You can sell State assets only once. Rather than sell them, they should be leased on short term basis to Private Sector.
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Hemant
Sep 10, 2018 09:21pm
Why he is making such stupid comments! Why no economist is giving advice! Land belonging to state can not b sold and generat revenue! In india railway provides the land for commercial use and railway earns revenue! Do you expect land used for canal can be sold or reused for commercial purpose?
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Adeel Jawaid
Sep 10, 2018 09:26pm
Cheese ? Are you guys for real?
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M Mirza
Sep 10, 2018 09:34pm
Do everything through parliament. Make laws to stop future rulers in doing whatever they have done uoto now.
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Brijesh Kumar
Sep 10, 2018 09:39pm
Do ordinary Pakistanis have 300 Billions to buy land from Govt? Or is Pakistani govt inviting Chinese to buy that land?
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Badar
Sep 10, 2018 09:42pm
Sell that land to foreign Pakistanis and bring The money in foreign currency home. Badar ch.
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Farhan
Sep 10, 2018 09:58pm
This is the only asset left with us. This belongs to our generations and not to sell
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m ahmed
Sep 10, 2018 09:58pm
@omer "but will this land end up in the hands of needy poor people or it will increase the wealth of rich billionaires of Pakistan." yes That is real concern and question. In past decades (1990s), in the name of privatization, costly lands and organizations were sold to family and friends on cheap cost...Govt property is property of people and specially poors. No crony capitalism please.
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Kamran
Sep 10, 2018 10:02pm
Ban on Tea, Pakistan import $493M worth tea each year.
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Majid
Sep 10, 2018 10:03pm
PTI real estate
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Vikas
Sep 10, 2018 10:11pm
I thought they were all sold or mortgaged to the Chinese. Well time to sell them to the Chinese now. Good thinking!
Recommend 0
Aamir
Sep 10, 2018 10:24pm
@Ahmed you don't know anything, where did you study?
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Chaudhry
Sep 10, 2018 10:31pm
This shows how incompetent is our government. They cannot increase revenue so now planning to sell government assets. They should hire somebody to teach them the basics. Please bring back looted money (as you promised), eradicate corruption, improve FBR and tax collection system, create atmosphere to encourage business community so as to create employment opportunities rather than thinking about selling the government assets.
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Chaudhry
Sep 10, 2018 10:34pm
@ABE Do not compare him with NS or anybody else. For ten years we have been listening that there will be "Tabdeeli" so forget about them and just think what type of Tabdeeli is it. We were supporting PTI but please remember do not make it a Holy Cow
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American Guy
Sep 10, 2018 10:36pm
So sell the country to China to be debt free!
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American Guy
Sep 10, 2018 10:39pm
Instead of selling land, raise import duty, increase tax collection and reduce army budget.
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MALIK
Sep 10, 2018 10:41pm
In a haste, they sold extra vehicles from the PM House? Now, what to do with extra guests, foreign delgations, pick up and drop.All these vehicles are at least 10 years or old. Any average family in USA and other foreign counries have a minimum of 3 cars. So is that the end of austerity scheme> The claims are hollow and it seems no proper and organized education is not done as only peripheral issues are touched .
Recommend 0
ARIF
Sep 10, 2018 11:02pm
Expanding tax net is the only solution.
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Observer-Indian
Sep 10, 2018 11:14pm
Congratulations to Pakistan to have such a visionary PM.
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nam
Sep 10, 2018 11:15pm
Rushing to post something of this importance on Twitter shows immaturity. Look at the things of this importance in a holistic and comprehensive ways.
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AD
Sep 10, 2018 11:18pm
Great suggestions from readers here. Hope Khan's media team is taking note.
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Muhibbewatan
Sep 10, 2018 11:19pm
In the face of a monumental task of cutting expenditures and extracting the maximum benefit out of public property alongwith reducing the budget deficit and debt burden, it seems that the government is jumping into a host of quick-fix measures that may well prove to be detrimental for this administration. The problem lies in the handling of such situations where, despite the idealistic intentions, there could be a lot of pitfalls on the way. A gradual process must be evolved with the consensus of the opposition and by educating the masses in this regard.
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Zak
Sep 10, 2018 11:28pm
Before any decision, think it out many times and it's far reaching consequences in the future. Unlike has price hike, then withdrawal should not be repeated. Don't burden the well off with too much otherwise they will also become poor and can't help the poor. Be just to all, whether rich or poor, Muslim or non muslim.
Recommend 0
Zaheer Shah
Sep 10, 2018 11:33pm
Mr. Prime Minister when are you donating your Bani Gala land? As per your saying lavish living doesn’t suit a PM, please sell 295 kanals to donate in Dam fund and set a personal example.
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imran
Sep 10, 2018 11:37pm
right point of consideration is 'ban on luxury items including the one highlighted here' for full five years. At the same time exports needs to be increased and the money earned vide these steps should be channeled to right areas.
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Ozi Far
Sep 11, 2018 12:12am
@rizwan not really, he is talking about the federal areas government land, which doesn’t belong to State. It’s allocated for federal use. You need more attention to detail.
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Kaspar
Sep 11, 2018 12:12am
@rizwan Not understood what IK is trying to say. Does he mean to sell the land owned by government departments and the Railways etc. to raise money? Land of course is under the jurisdiction of the various governments and its various agencies. When it is 'sold' to private persons, it is actually leased to them for a certain period say 99 years and in some cases less than that. There is no question of their being absolute owners. You are right, Mr. Rizwan, that IK needs to be given elementary lessons in economics. Perhaps his expertise is limited to collecting donations. But the government cannot be run on donations. You have to make sound policies and keep in sight the right priorities.
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Jigar
Sep 11, 2018 12:18am
I am sure China will be interested in buying these lands.
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Yuusma
Sep 11, 2018 12:57am
Someone should explain to the fearless Khan Sahib that the land and real estate "owned" by the government is held in trust for the nation's benefit. Selling family jewels never solves the problem of extravagance. Cutting down government waste should be welcome and officials being made to live simply will be a great achievement for the new government. But he mustn't be allowed to create more Bharia Towns in Pakistan. Khan Sahib might not like the PM house in Islamabad or the provincial govt. houses, but his mandate doesn't extend to doing whatever he fancies with these state assets. There MUST be a thorough parliamentary debate on this issue.
Recommend 0
hamza
Sep 11, 2018 01:01am
Think you seriously need to educate yourself first? "State Government is the ultimate owner of entire land and every inch of the country".
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Nileshpot
Sep 11, 2018 01:06am
Sudden increase in lank bank will crash land price.. Putting pressure on loans and banking system. He needs training in finance.
Recommend 0
Nadeem Jamali
Sep 11, 2018 01:09am
300 / 5 = 60. What will he sell after 60 days?
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Haq Awaz
Sep 11, 2018 01:10am
Please if anything, just lease the land but only to people who can put it to productive use within a finite time and not create files to sell. There could be a land cooperative that manages agriculture on a small scale. New Zeland has a well run cooperative for dairy farmers and certain African countries have come up with models to manage land (this needs to be studied as lack of farmer training caused some failures). We need to combine many ideas to get to a good one. I believe land in the hands of small farmers managed by the government can be productive like the micro loan concept in which most people pay back and create self sufficiency for themselves. Farmers could be trained in soil management and productivity.
Recommend 0
Dervaish Khan
Sep 11, 2018 01:14am
I still doubt if he is really a Prime Minister.
Recommend 0
Life
Sep 11, 2018 01:19am
Please don't tell me that this is the advice from 18 members EAC. It will be heart breaking and will bring my moral down to zero.
Recommend 0
Rajiv
Sep 11, 2018 01:31am
So if you sell it all that too at the rates you evaluated it on, you can pay 60 days "Interest".. What after that... Whats the big deal about Rs.300 billion...
Recommend 0
Tayyab
Sep 11, 2018 01:32am
Please find a better way to use all that land. Please don't sell this off and please catch the land grabbers who have built towers on govt. land and parks.
Recommend 0
shamsk
Sep 11, 2018 02:12am
@rizwan you mean Federal Government by State Government?
Recommend 0
Imran
Sep 11, 2018 02:29am
@Iftekhar Hassan 25 acres is nothing, 500 plus acres of land is something, please survey 25 acres and then you would understand.
Recommend 0
JACKJONES
Sep 11, 2018 02:38am
Message to Imran Khan - People of Pakistan are not clear regarding pakistan's strategy. We understand there is dearth of water resources and challenges with electricity and a lot of other issues. What does your government intend to presently and in the future do to overcome these challenges. We are not expecting for your team to resolve challenges overnight but we need to see a clear path on how this would be accomplished. One suggestion regarding future is to define and implement clear policies including monitoring that would help accomplish growth and raise a firm alarm when policies (accountability) being followed. People of pakistan will support you in this change but it has to be in the right direction.
Recommend 0
Awaz....
Sep 11, 2018 02:41am
You are kidding Mr. Prime Minister...You are living in a dream world....Come out as soon as possible!!!
Recommend 0
xpakistani
Sep 11, 2018 02:42am
This land should be leased to enterprises who can generate revenue.
Recommend 0
Najum
Sep 11, 2018 02:42am
Instead of selling PIA and Steel mills; he wants to sell prime land for cheap.
Recommend 0
Dev
Sep 11, 2018 02:49am
Sell it to China and UAE.
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Awaz....
Sep 11, 2018 02:52am
Let's start with your own home Bani Gala....Sell it, rather than looking for somewhere else. Be The True Leader and ask you friends Zulfi, Tareen, Fawad, Buzdar and others to do the same. Learn to live in a small home and then ask others for a sacrifice.
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Awaz....
Sep 11, 2018 02:53am
Is this your vision for Naya Pakistan? Then you are done!!!
Recommend 0
Awaz....
Sep 11, 2018 02:55am
You are completely confused and clueless... Lord have mercy on Pakistan.
Recommend 0
agakhanUS
Sep 11, 2018 02:58am
@rizwan Obviously Mr. PM does NOT know ABC of economics, let alone that of a Nation. Some PR guy must have said so, in a meeting and he has to come out in the open with this grandiose "expose". Land is ours and will be for ever - Money is a moving item - even we default - so what? Are Chinese or US or UAE will grab our land?
Recommend 0
TKhan
Sep 11, 2018 02:59am
@Kamran - so you want to have the taste of communism and socialism? Imran Khan is going all over. He should concentrate in reforming tax system and collect due taxes. If everyone pay their fair share we will have plenty of money to take care of the country.
Recommend 0
AKSAR
Sep 11, 2018 03:20am
One thing we all agree on is that austerity measures need to be put in place - but are unpoplular for any Govt. Give the new Government a chance to calculate tactics to put the austerity measures in place. Many will rebel and many more comments will be posted and negative remarks made. All of us have opinions, but few have the power or will to enforce them.Public quick of the mark to say no tax increase, dont tax this product, do not cut back on this or that so whas the plan? Is selling the rest houses and land a bad idea that brings in revenue to address the issue? If its sold at the right price or with the right t&c's , why not?
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Timember
Sep 11, 2018 03:25am
Anyone who has more than one house in Pakistan must be asked to give up extra houses to the government to shelter the poor and homeless. Why would anyone need more than one house anyway ? And if you have houses and property abroad, make them pay 10% of the current market value to the government.
Recommend 0
Sailani
Sep 11, 2018 03:28am
Tighten the belt and curb imports that do not help the economy.
Recommend 0
Awaz....
Sep 11, 2018 03:29am
I wish somebody will tell Mr. Imran Khan that there is a huge difference between running a cricket team and governing a country. It is totally a different ball game Mr. Prime Minister.
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Faroöq
Sep 11, 2018 04:21am
Pass a law , covert the land title to leased hold 99 years renewal and open a tender for private sector to bid for joint development , whatever revenue generate from the rental / sell of property and of its share to be spend on public well fare ... after all the land will be still belongs to govt of Pakistan.
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Kamal
Sep 11, 2018 04:47am
Please give figures in some dollar amount as well as acres. What is kanal?
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Imran Khan
Sep 11, 2018 05:07am
good idea PM, sell the land and pay off the debt
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wiq
Sep 11, 2018 05:16am
This land for sale logic has been used by Bahria, Askari and Defence Housing Societies and others like eminent domain. None has benefitted the country. Good but naive intentions turn into unmitigated disasters. Does anyone remember Yellow Cab, Orange line and Laptop Schemes?
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Tabdeli Agae
Sep 11, 2018 05:18am
Yes indeed. If imported cheese, cars, mobile phones is affecting hard earned foreign reserves than why try to produce these items locally and export the same to earn more foreign exchange. For some of the high tech items, negotiate for setting up local production by giving them 5 year tax break. It is good to see that reforms are taking place to prevent possible debt-slavery for children of the nation.
Recommend 0
Bilal Khan
Sep 11, 2018 05:21am
@rizwan.... you didnt get it. They can sell govt owned land to private pakistani people and raise money rs 300b to fund development.
Recommend 0
C. B. Baxi, Ph. D.
Sep 11, 2018 06:03am
Dear Mr. Khan: Don't sell state lands. Lease them for 20 years, with an inflation cause. I am Indian but wish Pakistan all good luck and success. Dr. Baxi
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Tariq
Sep 11, 2018 06:15am
That is less than 3 billion dollars
Recommend 0
Bobby Paul
Sep 11, 2018 06:24am
@rizwan You are absolutely correct but it is not bad idea either. Lease or sell this land to only Pakistanis and borrow money from state instead going to IMF. Part of this money must be used by state for state people only
Recommend 0
Raj
Sep 11, 2018 06:35am
Selling long term assets to pay for short term debt is a bad idea. You done sell the house you leave in to pay off this months credit card bill.
Recommend 0
Riaz
Sep 11, 2018 06:52am
Captan Sahab this is a test match can not play it like a T20.
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Atif Siddiqui
Sep 11, 2018 07:05am
People who have to sell their family jewels to survive cannot do that for very long. Imran Khan promised economic reform and 10-million jobs in 100 days. Where are the plans for that? Anybody can sell the family jewels. That is no plan.
Recommend 0
Raul
Sep 11, 2018 07:16am
Looks like PM is unsure of what to do ? He wants to do something but does not want to look stupid at the same time if possible be called a genius, this method of throwing Ideas in the public and trying to get a feel for public feedback is really very poor leadership. He needs to let the FM handle this and implement recommendations by EAC (without looking at their beliefs ) . I get a feeling the way things are going people are positioning themselves so that if there a solution they get credit else they don't want to be linked with it. Hope it does not end up like Solved by IK or Failed due to EAC situation.
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Zahid Sadik
Sep 11, 2018 07:19am
Don’t sell the dead capital to payoff debt. Just balance the budget without borrowing more money by cutting the fat in the budget. Once the trend of borrowing will be reworsed and loans will start paying off than physical situation will improve; nothing could be done overnight, just need good planing. Pakistan is not poor, small business are not paying fair share in tax. Business in western country pay 20 to 30% tax on their capital gain; just need to improve tax collections system.
Recommend 0
Tamza
Sep 11, 2018 07:23am
@umar farooq Mr know-it-all The PM is talking of land that is unused. While we must leave a lot of land unused for environmental reasons/ parks etc- there still is lot unused. In fact land is a fixed asset and without proper ownership documentation a lot is ‘lost’ to the land mafia - rather than being available for economic activity,
Recommend 0
Mukul
Sep 11, 2018 07:26am
Sorry but very amateurish ideas ! Something one owns and wants to sell does not mean market wants to buy at the rate seller wants to sell. Supply and demand basics are always at play.
Recommend 0
Khan
Sep 11, 2018 08:32am
First get a detail report of current Government Land holder names .
Recommend 0
Muneer
Sep 11, 2018 08:41am
@rizwan The PM is only talking of land and buildings held by the government and how to utilize them to get benefits. If the government is owner of every inch of land then why it is now buying land for Basha Dam and in the past has bought lands for Mangla,Tarbela dams and other projects etc, some claims for which are still pending.Needs to know facts before offering education to the PM.
Recommend 0
prafulla
Sep 11, 2018 09:45am
It is the time to give maximum importance to education & law & orders of Pakistan, If you observe you can find out educated people always follow instruction of society & government to become good citizen. Pakistan has tremendous potential but those has not been captured, take help of China on technological growth & infrastructure, it is possible. Never be afraid of criticism & try to control anti social groups who are spoiling name of Pakistan, better take control of all basic industries like steel, electricity generation, export of textiles.
Recommend 0
sudhi
Sep 11, 2018 09:48am
I think it is a wrong step. It is like selling your land when you are in debt trap. It must be the last resort. The state owned land is precious asset and selling it require much more deliberations and national consenses.
Recommend 0
majid udhi
Sep 11, 2018 12:17pm
sell all these dead land and invest in education,health
Recommend 0
BAXAR
Sep 11, 2018 12:27pm
@hani "Mobile phones increase labour productivity so it will hurt economic growth if they are banned." We are talking about expensive ones, banning them may decrease foreign labor productivity, not Pakistan's. Maybe you are worried for them!!!
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BAXAR
Sep 11, 2018 12:30pm
@Atif Siddiqui "People who have to sell their family jewels to survive cannot do that for very long." That mostly happens to families who lived too long beyond their means. Yes you cannot survive very long after that if you still try to keep family jewels. Can you tell us the use of family jewels for a hungry family?
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Guest
Sep 11, 2018 01:33pm
@C. B. Baxi, Ph. D. "Lease them for 20 years" We do not create new land. Please do not sell or lease because this will also be subject to massive corruption only benefiting a few.
Recommend 0
SR
Sep 11, 2018 01:48pm
Does the PM wants to sell of these(90% of urban holdings) raise capital?What is left then? Is he trying to sell whatever is left of Pakistan?
Recommend 0
Thinker
Sep 11, 2018 02:32pm
China is ready to buy it
Recommend 0
Mustafa
Sep 11, 2018 03:03pm
but that not a lot of money, as the PKR isn't worth much these days. You sure can't run a country by just selling the land
Recommend 0
sukhera
Sep 11, 2018 04:49pm
The govt owned land should never be sold off to peivate enterprises especially to pay off debts. This land should be used to plant mote trees and set aside for forest preserves to combat pollution which is the highest in Pakistan.
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Kundan_chennai
Sep 11, 2018 06:44pm
PM IK little naive But good intentions Big country like Pakistan is still densely populated Am not even sure what land is so free for them to sell BTW India did sell gold in 1991 At the instance of PM Narasimha RAO a architect of modern India That was a great success by narasimha Rao Govt
Recommend 0
Samanvita
Sep 11, 2018 06:52pm
Yeah, next he should assess the value of items in museums, heritage sites, etc. it may not be a bad idea to sell some assets but did he do the necessary analysis, like what is there rate of return in terms of appreciation and will he be selling assets to pay interest or debt itself if so how much and is the appreciation more than interest rate? Etc
Recommend 0
khan j
Sep 11, 2018 07:27pm
Borrowing from Donald Trump playbook - using twitter to appeal to his base. Unfortunately focusing on issues that will not fix the bigger problem. I will be much interested in seeing what the economic council propose and how he act to fix the bigger problem like corruption, fair tax revenues collection, reduce defense spending, etc
Recommend 0
lkhan
Sep 11, 2018 09:34pm
In Spain, during times of isolation from its neighbours, many of its castles were converted in what they call "Paradores", resting places. Beautiful hotels, all run according to Spanish culture, with excellent wholesome Spanish cuisine of the regions, whether by the Atlantic coast or high up in the Pyrenees. All kept immaculately clean, austerely furnished with local furniture, they are wonderful places doing well ever since. A private investor/s willing to do likewise in Pakistan would be such a boost for tourism, community employment, in remote areas benefit the poor and/or minorities... at the same time a business that would promote local cultures, sports, love of nature and such would be available to Pakistanis and people of the region wanting to get away for as short or long a time desired....
Recommend 0
zack - chicago
Sep 11, 2018 11:23pm
@omer I agree with you!
Recommend 0
Babu Desai, Pune
Sep 11, 2018 11:24pm
Build schools and colleges so you can invest in the future.
Recommend 0
PS
Sep 12, 2018 12:23am
$2.5 bn of assets and about $42 million interest every day. The Pakistan government will able to pay 60 days of interest upon pledging all its Urban land holdings - assuming they are NOT pledged already. This is NOT a wise solution. Better will be to reduce by 50% the Pakistan defense budget of about $5bn. The $2.5 bn saved can reduce interest payments significantly on a recurring basis. Can Imran Khan take this decision?
Recommend 0
brr
Sep 12, 2018 03:46am
talk about land mafias
Recommend 0
DIGGER DOWN UNDER
Sep 12, 2018 05:00am
Do not sell the family silver. Instead, recover the government land that has been encroached upon by the land mafia. Give suitable punishment to the mafia. Approach the Saudis to provide financial assistance plus riba-free loans. Adopt the austerity measures that would genuinely save money. Introduce incentives that would increase export, bring in foreign capital, and create employment. Introduce reforms gradually.
Recommend 0
Qaisar Khosa
Sep 12, 2018 05:29am
Highly likely that the government land, cars and other assets may be cheaply gifted to personal favorites (continuing from Musharraf, Zardari and Sharif Eras), all in the disguise of austerity.
Recommend 0
drive drive
Sep 12, 2018 07:47am
car salesman can only sell cars...can't design those...
Recommend 0
MAK
Sep 12, 2018 08:26am
Please don't ruin our historical places or sell 'crown jewels' like ZAB's nationalization fiasco, concentrate on 1) population explosion 2) corruption 3) Extremism / intolerance, everything else can wait
Recommend 0
Unknown
Sep 12, 2018 09:33am
He just lost a wicket there.... Hopefully he realizes..
Recommend 0
awan
Sep 12, 2018 10:51am
if those state lands are really to be used for the betterment of the country then its fine otherwise it will be just a heed....
Recommend 0
Qadir
Sep 12, 2018 11:56am
Does this include the land owned by the Military?
Recommend 0
jaba
Sep 12, 2018 11:58am
Sales will be made to the cabinet or the core committee of the government, at least they will pay for what its worth rather then take it away for peanuts, either way, sell it or not but get rid of the all the loans!! Godspeed!!
Recommend 0
sara
Sep 12, 2018 12:51pm
PTI is turning out to be licensed land mafia.
Recommend 0
AQ
Sep 12, 2018 02:15pm
True, the govt resources don't need that much of land, there can be good use of it instead of just keeping the land. The more wisely used land sources is also need of time. What PM is suggesting is not going thgough some people mind because they didn't really get the point. A lot of land areas which are dead capital can be converted into earning resources to increase govt revenue for country.
Recommend 0
M Nasir
Sep 12, 2018 08:55pm
Better focus and target key industry to built in next 5 years; so far didnt heard any strategic and key industrial focus
Recommend 0
Anjum Shami
Sep 13, 2018 07:11am
@Arshad Ahmed . Also, the land steel mills sit on is worth billions, I was told. Why can't we move steel mills to HUB or Balochistan side near Gadani beach and sell that lucrative land to investors. This way govt will transform industrial zone in Gadani area, increase the value of the land there as well. After selling the steel mills land, govt will earn property tax perpetually like other industrialised economies.
Recommend 0

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