Tuesday, May 21, 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

    WATCH: Video Of Nawaz Sharif's Final Goodbye To Begum Kulsoom Nawaz Goes Viral

    WATCH: Video Of Nawaz Sharif's Final Goodbye To Begum Kulsoom Nawaz Goes Viral
    In the video, a visibly emotional Sharif can be seen talking to his unconscious wife in a London hospital before his return to Pakistan on July 12 to serve his 11-year jail term.

    WATCH: Video Of Nawaz Sharif's Final Goodbye To Begum Kulsoom Nawaz Goes Viral

    PM Modi A 'Friend', Donald Trump Quoted As Saying In Book By Journalist

    PM Modi A 'Friend', Donald Trump Quoted As Saying In Book By Journalist
    US President Donald Trump described Prime Minister Narendra Modi as his friend who told him that the US has got nothing out of Afghanistan, according to Bob Woodward's latest book that hit stores on Tuesday.

    PM Modi A 'Friend', Donald Trump Quoted As Saying In Book By Journalist

    Imran Khan To Auction Buffaloes Kept By Nawaz Sharif In Pak PM House

    Imran Khan To Auction Buffaloes Kept By Nawaz Sharif In Pak PM House
    The cash-starved Pakistan government led by Imran Khan has launched an austerity drive. Under this, more than 80 luxury cars would be auctioned.

    Imran Khan To Auction Buffaloes Kept By Nawaz Sharif In Pak PM House

    Nawaz Sharif, Daughter To Be Granted Parole For Begum Kulsoom's Funeral

    Nawaz Sharif, Daughter To Be Granted Parole For Begum Kulsoom's Funeral
    Nawaz Sharif, his daughter and son-in- law will be granted parole from the time of Kulsoom Sharif's funeral prayers till her burial, Geo TV reported

    Nawaz Sharif, Daughter To Be Granted Parole For Begum Kulsoom's Funeral

    Jailed Pakistan Prime Minister Nawaz Sharif's Ailing Wife Dies In London

    Jailed Pakistan Prime Minister Nawaz Sharif's Ailing Wife Dies In London
    Begum Kulsoom Nawaz, wife of deposed and now jailed Pakistan Prime Minister Nawaz Sharif, passed away in a hospital in London on Tuesday after months of battle with cancer, the family said.

    Jailed Pakistan Prime Minister Nawaz Sharif's Ailing Wife Dies In London

    Indian-Origin Professor Arul Chinnaiyan Awarded $6.5 Million To Improve Cancer Diagnosis

    Indian-Origin Professor Arul Chinnaiyan Awarded $6.5 Million To Improve Cancer Diagnosis
    The US National Cancer Institute has give the "Outstanding Investigator Award" to Professor Arul Chinnaiyan, from the University of Michigan, and $6.5 million in funding over seven years, to identify cancer biomarkers to improve diagnosis and develop new targeted therapies.

    Indian-Origin Professor Arul Chinnaiyan Awarded $6.5 Million To Improve Cancer Diagnosis