Rs156m raised from property auction

Published September 8, 2020
Prime Minister Imran Khan has entrusted the Privatization Commission to auction federal government’s abandoned properties. — File photo
Prime Minister Imran Khan has entrusted the Privatization Commission to auction federal government’s abandoned properties. — File photo

ISLAMABAD: The federal government on Monday raised Rs156.45 million by disposing of abandoned properties in Islamabad against the reserve price of Rs140.525m.

Prime Minister Imran Khan has entrusted the Privatization Commission to auction federal government’s abandoned properties.

In the first phase of auctions held on Monday, five government-owned properties including two penthouses at Islamabad Country Club, two apartments, one in Centarus Mall and other located at Pakistan Housing Authority apartments were sold.

Auction of land at Pir Sohawa attracted most interest with investors increasing their bid till the final call.

The next phase of auction will begin in Lahore on Sept 9, followed by Gujranwala on Sept 11, Faisalabad Sept 14, Multan Sept 16, Rahimyar Khan on Sept 18, Nawabshah Sept 21 and Abbottabad Sept 25. The open bidding process was conducted by financial advisers and was monitored by the auction committee comprising of senior ministry officials and Minister for Privatisation Mohammedmian Soomro.

Minister for Maritime Affairs Ali Haider Zaidi and Special Assistant to Prime Minister on Overseas Pakistanis and Human Resources Development Zulfiqar Abbas Bukhari were also present at the occasion.

Published in Dawn, September 8th, 2020

Opinion

Viral violence
Updated 25 Feb 2021

Viral violence

How many more brutal videos must be uploaded for us to put an end to torture?
The political chessboard
Updated 24 Feb 2021

The political chessboard

It is now hard for the PTI to defend itself from the opposition’s onslaught.

Editorial

IHK & human rights
Updated 25 Feb 2021

IHK & human rights

If India continues to be pampered and the Kashmiris’ plight ignored, peace in South Asia will remain a distant dream.
25 Feb 2021

A better law

THAT the Sindh Police has taken an initiative to bring improvements to the criminal justice system is a positive...
25 Feb 2021

Power breakdown report

A NEPRA inquiry into last month’s power breakdown that left almost the entire country without electricity for up ...
Return of militancy
Updated 24 Feb 2021

Return of militancy

Extremism is a hydra-headed monster that needs a sustained, multifaceted approach to vanquish.
24 Feb 2021

FDI decrease

THE more permanent and non-debt-creating FDI inflows to Pakistan have shrunk by a whopping 27pc to a meagre $1.1bn ...
24 Feb 2021

Myanmar protests

THE protests against Myanmar’s Feb 1 military coup have refused to die down, with hundreds of thousands of people...