20 government-owned properties auctioned for Rs 1 billion

ISLAMABAD: The Ministry of Privatisation auctioned 20 government-owned properties in four cities have been auctioned with Rs1 billion proceeds. In the next step, the auction will take place at Multan, Vehari and Rahim Yar Khan starting 16th September 2020, this journey will culminate on 28 September with the auction of the biggest property, worth more than Rs5 billion.

All the properties have been auctioned through open bidding and in a transparent manner. The 90 percent of the sale proceed will go for debt retirement, and rest of the 10 percent for poverty alleviation.

Copyright Business Recorder, 2020