Pakistan on Monday auctioned some seventy luxury vehicles out of 102 government-owned vehicles as part of its new Prime Minister Imran Khan's austerity drive.

Auction official Mohammad Asif stated the vehicles could bring in about Rs 2 billion to the cash-strapped government's coffers. The vehicles displayed for auction include eight BMW, 28 Mercedes, 40 Toyota cars, two land cruisers, five Mitsubishi, and two jeeps.

Information Minister, Fawad Chaudhry, said that funds accumulated from the auction will be added in national exchequer, reported local media reports.

Nawab Gul bought a 2005 Toyota Altas for 1.25 million rupees. "They are saying the national coffers are empty. So, here, have my two cents," Gul said.

Another bidder Taufeeq Nawab said he would like to buy one of the older, cheaper vehicles for his family. "I can say that I have a Prime Minister House car. My kids will feel good riding in it."

The bidders will have to submit 10 percent amount of the total value of a vehicle, they are bidding for.