Islamabad: A number of investors and overseas Pakistanis showed a great deal of interest in the 32 underutilised government-owned properties showcased at the recent Pakistan Property Show Dubai – 2019 (PPS Dubai – 2019) organised by Zameen.com in the UAE on December 6 and 7 – according to news sources.
The privatization secretary conveyed this information to Prime Minister (PM) Imran Khan during a meeting held to discuss the implementation of the government’s planned auction of unused state properties. He was briefed about the planned auction of 32 properties – scattered across various cities and worth billions of rupees – in order to generate revenue for financing public welfare projects.
The privatization secretary informed the PM that these buildings had been identified in Lahore, Islamabad, and Karachi; adding that out of the 32 identified properties, 27 were readily available for auction. The process to recover the remaining five properties from illegal occupation and completion of the ownership decree was in process.
He further said that a local and international advertising campaign for the auction would be launched in the first week of January following the completion of all formalities.
In response, the PM expressed satisfaction on the overall process and declared that the revenue generated from these properties would be used to construct low-cost houses, schools and hospitals in the country.
On the subject of implementation with regard to the Naya Pakistan Housing Programme (NPHP), the PM said that the construction of high-rise building in the slums of various cities could alleviate residential concerns of slum dwellers.