The federal government has decided to auction off 27 properties belonging to different departments under its control. The bidding process will be held from September 7 to 28.
The privatisation commission expects to generate at least Rs6.62 billion in revenue from the auctions. The properties include different land, apartments, shops and buildings.
The commission added that the source of income will not be asked if the properties are bought for construction purposes.
The Ministry of Industry has set the price of its 41-kanal property in Lahore at more than Rs5 billion. The Civil Aviation Authority will be auctioning its properties in Nawabshah, Rahim Yar Khan and Vehari.
The commission has also decided to sell 15 properties belonging to the Earthquake Reconstruction and Rehabilitation Authority (ERRA) in Islamabad, Lahore and Haripur.
Properties of the FBR, Water Resources and Trading Corporation will also be auctioned off. The FBR has fixed a reserve price of Rs640 million for its 15 kanals of land in Faisalabad.
Employees of the Privatization Commission and other government departments whose properties are being auctioned will not be able to participate in the bidding process.
PTI’s austerity drive
When Imran Khan took oath as Pakistan’s prime minister in August 2018, he launched an austerity drive with the hopes to cut costs, including trimming motorcades of government officials, selling public land and luxury vehicles.
Over 100 vehicles were put up for auction in 2018 of which only 61 were sold at a cost of Rs200 million. The cost was reportedly just one-tenth of the amount the government had predicted.
After auctioning former premier Nawaz Sharif’s vehicles, the PTI-led government auctioned off eight buffaloes on September 27, 2018 and all of them were bought by PML-N workers.