Friday, January 15, 2021

Not a Bluff, Pakistan PM Imran Khan Auctions 8 Buffaloes To Generate Funds

The debt-ridden Pakistan government under PM Imran Khan collected Rs 23 lakh when it auctioned eight buffaloes kept by former PM Nawaz Sharif. Facing huge debts and liabilities, Imran Khan launched a massive austerity campaign where his government also auctioned 61 luxury cars last week, raising approximately Rs 200 million. 

The plan is to auction 102 surplus cars, including bulletproof vehicles, and four helicopters used by the Cabinet Division. The sale of three buffaloes and five calves belonging to the PM house fetched a total of Rs 23 Lacs in an auction held in Islamabad, according to Dawn.

The Buffaloes were sold very quickly. The bidders were told they could only pay in cash. Some reports said all the buffaloes were purchased by supporters of the three-time prime minister and they plan to gift them back to Nawaz Sharif.

The Pakistani rupee has sunk by over 20% in the past seven months owing to a balance of payment crisis. The last fiscal year ended with a current account deficit of USD 18 billion, 5.7 per cent of the GDP. The budget deficit has crossed 2 trillion rupees, according to media reports.

More News at EurAsian Times

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