{"id":51195,"date":"2019-04-10T14:57:41","date_gmt":"2019-04-10T09:57:41","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=51195"},"modified":"2019-04-10T15:05:58","modified_gmt":"2019-04-10T10:05:58","slug":"gop-to-sell-770-acres-of-state-land-to-pay-foreign-debt","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/gop-to-sell-770-acres-of-state-land-to-pay-foreign-debt.html","title":{"rendered":"GoP to sell state land, mechanism to determine market rate approved"},"content":{"rendered":"<p>Islamabad: The Government of Pakistan has decided to sell 770 acres of valuable land owned by the state to pay off foreign debts, reported a news source. Federal Minister for Privatisation Muhammad Mian Soomro approved the proposed measures to determine market rate of property owned by various ministries.<\/p>\n<p>Read:\u00a0<a class=\"row-title\" href=\"https:\/\/www.zameen.com\/news\/state-land-to-be-sold-to-clear-debt.html\" target=\"_blank\" rel=\"noopener noreferrer\">State land to be sold to clear debt<\/a><\/p>\n<p>The government will sell land owned by Ministry of Information and Broadcasting, Water Resource Division, Commerce Division, Ministry of Housing and Works, Pakistan Sports Board and Civil Aviation Authority in the first phase.<\/p>\n<p>Speaking to media, Privatisation Ministry Secretary Rizwan Malik said that the company delegated the task to determine rate of commercial and agriculture property will settle the market rate to help fetch better revenue. So far, the government has identified 77 such properties for which proper documentation is available.<\/p>\n<p>Read: <a class=\"row-title\" href=\"https:\/\/www.zameen.com\/news\/sc-stops-transactions-of-state-land-in-karachi.html\" target=\"_blank\" rel=\"noopener noreferrer\">SC stops transactions of state land in Karachi<\/a><\/p>\n<p>In addition to selling state land, the Privatisation Board will also sell 18.39% of the Government\u2019s shares in Mari Petroleum Company. The Federal Minister for Finance Asad Umar is keen on selling these shares before the upcoming budget in June. The minister is of the view that selling these shares after announcing the budget will have a negative impact on the budget deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Government of Pakistan has decided to sell 770 acres of valuable land owned by the state to pay off foreign debts, reported a news source. Federal Minister for Privatisation Muhammad Mian Soomro approved the proposed measures to determine market rate of property owned by various ministries. Read:\u00a0State land to be sold to clear debt The government will sell land owned by Ministry of Information and Broadcasting, Water Resource Division, Commerce Division, Ministry of Housing and Works, Pakistan Sports Board and Civil Aviation Authority in the first phase. Speaking to media, Privatisation Ministry Secretary Rizwan Malik said that the company delegated the task to determine rate of commercial and agriculture property will settle the market rate to help fetch better revenue. So far, the government has identified 77 such properties for which proper documentation is available. Read: SC stops transactions of state land in Karachi In addition to selling state land, the Privatisation Board will also sell 18.39% of the Government\u2019s shares in Mari Petroleum Company. The Federal Minister for Finance Asad Umar is keen on selling these shares before the upcoming budget in June. The minister is of the view that selling these shares after announcing the budget&hellip;<\/p>\n","protected":false},"author":18,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11247],"persona":[],"class_list":{"0":"post-51195","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-gop-to-sell-770-acres-of-state-land-to-pay-foreign-debt"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GoP to sell state land, mechanism to determine market rate approved - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Government of Pakistan has decided to sell 770 acres of valuable land owned by the state to pay off foreign debts, reported a news source.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/gop-to-sell-770-acres-of-state-land-to-pay-foreign-debt.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GoP to sell state land, mechanism to determine market rate approved - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Government of Pakistan has decided to sell 770 acres of valuable land owned by the state to pay off foreign debts, reported a news source.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/gop-to-sell-770-acres-of-state-land-to-pay-foreign-debt.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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