Pakistan to sell unused state properties at Expo 2020
- 05 Dec 2019
Tariq Butt
The federal government has decided to sell its precious unutilised state properties at the Dubai Expo to attract foreign and Pakistani investors to the country and the funds generated through the exercise will be spent on public welfare schemes related to education, health, food and housing.
It was decided at a meeting on abandoned state properties presided over by Prime Minister Imran Khan.
“These unutilised state properties will be marketed at the Dubai Expo to attract foreign and Pakistani investors to buy these assets,” Privatisation Secretary Rizwan Malik informed the premier.
Khan directed the authorities concerned to sell all precious abandoned properties of the state and to spend the money to be fetched from their sale on welfare of the masses.
The prime minister said that despite having properties worth billions of rupees, state institutions were bearing losses of billions of rupees every year.
“Utilisation of properties worth billions of rupees will help generate funds which will be spent by the government on public welfare schemes such as schools, colleges, hospitals. It is an important component of the government’s policy,” the prime minister said.
“Unfortunately, criminal negligence was done by the previous governments as they did not utilising these valuable properties. Despite billions of rupees’ assets, various federal government institutions are bearing losses of billions of rupees every year,” he added.
Khan warned that strict action would be taken against government officials who did not identify unused properties or tried to hinder the government move.
He directed the Asset Management Committee and federal ministries as well as provincial governments to resolve all issues related to identified properties next week and implement the government decision immediately.
The World’s Greatest Show opens its doors on Oct.20, 2020 and will run untill April 2021.
Expo 2020 will bring the world together, including more than 200 international participants and millions of people, in a spirit of celebration, collaboration and optimism for the future. For six months, all eyes will be on the UAE as it delivers an exceptional Expo that entertains, enlightens and unites. It will be the ‘be there’ moment of our time.
Excitement for Expo 2020 Dubai is reaching new heights as the UAE celebrated One Year to Go across all seven emirates on Oct.20, 2019.
Events around the country, including live performances in Dubai from global superstar Mariah Carey and acclaimed Emirati singer and Expo 2020 Ambassador Hussain Al Jassmi, provided a glimpse of what visitors can expect when the Expo 2020 opens next year.
