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December 2018
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News Headlines
Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        Rahul tweets pic with Kamal Nath, Scindia as race for CM moves to Bhopal        Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        
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International News
Imran Khan govt auctions 70 luxury cars as part of austerity drive
 
Islamabad, Sep 17 (PTI) The cash-strapped Pakistan government on Monday sold 70 cars "above their market price" as it started the process of auctioning 102 luxury vehicles of the PM House under Prime Minister Imran Khan's austerity drive, a senior minister said.

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".

Speaking to reporters on Monday, Information Minister Fawad Chaudhry said the first batch of 70 vehicles have been sold successfully.

"These cars were sold above their market price," Chaudhry claimed amid reports that the government hopes to collect Rs 2 billion (USD 16 million) from the auction.

He added that vehicles which are classified as protected (bomb and bullet-proof) would be auctioned next.

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.


Trump's son-in-law Jared Kushner possible next chief of staff: US media
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Khashoggi, other journalists named Time 'Person of the Year'
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UK PM faces fight for her political life in Brexit deal
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Pakistan slashes non-salary budget by 10%
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ENTERTAINMENT NEWS
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NATIONAL NEWS
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Author Amitav Ghosh Honoured With 54th Jnanpith Award
Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha
Ashok Gehlot appeals to Cong workers in Raj to maintain peace
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