Government of Pakistan to sell unused state property

ISLAMABAD: The Pakistani government decided to sell its precious unused state properties to attract foreign and Pakistani investors, according to media reports on Thursday, while the country with liquidity problems tries to overcome a growing balance of payments crisis and strengthen its finances public.

Prime Minister Imran Khan He said the precious government properties will be sold for better use of the funds in public welfare projects.

The properties would be sold in it and the funds generated through the exercise will be spent on education, health, food and housing, Dawn newspaper reported.

These unused state properties will be marketed at the Dubai Exhibition to attract foreign and Pakistani investors to buy these assets, privatization secretary Rizwan Malik told the prime minister.

Unfortunately, previous governments committed criminal negligence since they did not use these valuable properties. Despite the assets of rupees billions, several federal government institutions are suffering losses of rupees billions every year, Khan said.

Khan also warned that severe action would be taken against officers who create obstacles in identifying unused government properties, News International reported.

the International Monetary Fund ( IMF ) in July approved a three-year loan worth 6,000 million dollars for Pakistan with difficult conditions to address its balance of payments crisis and help the country's economy to return to sustainable growth.

Pakistan approached the IMF in August 2018 for a bailout package after the Imran Khan government took over.

Pakistán también recibió miles de millones en paquetes de ayuda financiera de países amigos como China, Arabia Saudita y the Emiratos Árabes Unidos.