ISLAMABAD: Thirty-two abandoned government-owned properties worth billions of rupees in Islamabad, Lahore and Karachi will be auctioned and the additional revenue will be spent on public welfare, the Prime Minister’s Office announced on Thursday.
Out of the 32 identified real estates, 27 are already available. The remaining five are still either illegally occupied or facing ownership documentation issues, APP reported, citing the PM’s Office.
According to the report, investors and overseas Pakistanis had already shown interest in acquiring the estates during a recent expo in Dubai.
An advertisement campaign for the properties is planned to be launched in early January.
According to the APP report, Prime Minister Imran Khan seeks to have proceeds from the real estate allocated for affordable housing, schools and hospitals. Residents of slum areas are going to be prioritized in the government’s projects financed from the property sale.
The prime minister requested all relevant ministries to amend their regulation to make the allocation process possible.
