Islamabad: The Privatisation Commission of Pakistan recently decided to auction 27 state-owned entities in different cities, a news source reported. As per the publication, the commission has finalised the minimum offer-price for the said properties; stating that the revenue attained from their sales would be used to pay off the country’s debts.
Prime Minister (PM) Imran Khan had earlier directed the authorities concerned to sell unproductive assets and barren lands that were under government ownership. Reportedly, the bidding process for the said property units is expected to be completed by the end of April.
Of the total 27 entities being auctioned off, the Earthquake Reconstruction & Rehabilitation Authority (ERRA) owns 17 properties. The Ministry of Water Resources and the Ministry of Aviation owns three properties each. The Textile division owns two properties, and the Ministry of Commerce and the Ministry of Industry and Production each own a single property.
The ERRA also owns a few additional properties,
including two penthouses in Islamabad Country Club, several apartments in
Islamabad, and three shops in Gulberg, Lahore. The reserve prices set by the
Privatisation Commission and the ministries which own them are as follows:
• 11 apartments owned by ERRA, with a reserve price of PKR 225.5 million
• Wapda Building in Lahore owned by the Ministry of Water Resources, with
a reserve price of PKR 90 million
• Wapda Rest House in Saidu Sharif owned by the Ministry of Water
Resources, with a reserve price of PKR 160.32 million
• Wapda Rest House in Mansehra owned by the Ministry of Water Resources,
with a reserve price of PKR 20.17 million
• Republic Motors Limited, with a price of PKR 5.2 billion; of which the
government owns 65% shares
• 120 Kanals of land in Multan owned by the Ministry of Commerce, with a
price of PKR 262.5 million
• 15 Kanals of land in Faisalabad owned by the Federal Board of Revenue,
with a price of PKR 640 million
• 8 Kanals of land in Gujranwala owned by the Textile Division, with a
price of PKR 20 million
