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I
INP
September 17, 2020

21 unused state properties auctioned

Top Story

I
INP
September 17, 2020

ISLAMABAD: The Ministry of Privatisation has confirmed that 21 out of 26 unused state properties were auctioned following the directives of Prime Minister Imran Khan. The spokesperson for the Ministry of Privatisation said in a statement that the auction process of unused state properties is underway over the premier's directives.

It added that the ministry completed the auction of 21 out of 76 unused state properties in Islamabad, Lahore, Gujranwala, Faisalabad and Vihari. The properties had been auctioned on more than reserve prices which generated an income of over Rs1 billion for the national exchequer. The public funds will be used for paying off debts and poverty alleviation.

The ministry also provided details of the auctioned state properties in its statement. The land belonging to aviation worth over Rs5.7 million in Vihari was auctioned against over Rs16.7 million.

The spokesperson added that the ministry will auction four more properties in Rahim Yar Khan, Nawabshah, Abbottabad and Lahore. The reserve price of the government land belonging to Republic Motors Limited at Mall Road is around Rs5 billion which was declared suitable for investment.