PTI mulls privatising govt properties to raise money

Plans to generate money from its under-utilised and ‘dead’ assets

ISLAMABAD: Amid a crisis-like situation, the Pakistan Tehreek-e-Insaf (PTI) government is mulling privatising government properties and buildings along with other set of proposals to raise money under the austerity drive.

It was also noted that a large sum of taxpayers’ money was being spent on these assets, diverting funds from other much-needed projects. The PTI government is of the view that these assets have the potential to raise huge money for the national exchequer.

Officials familiar with the development said the government, in its first cabinet meeting, had considered several proposals to raise money under the austerity drive, which also included the proposal to hand over government properties and buildings to the Privatization Commission to offer further to investors.

The government has divided government properties and buildings in three categories, which would be privatised, leased and outsourced for public interest and commercial use by the public. Background discussions with officials revealed that the PTI government had considered use of government’s fixed assets. It has been recommended that properties and buildings could be privatised or commercialised and opened for the general public.

Officials said that the cabinet members also pointed out that these buildings should be taken away from the existing departments and offices and transferred to dedicated department, which should open them for use by the public.



The cabinet members also suggested that these properties be offered to investors through the competition process for raising funds. Officials said that the third proposal was that some buildings with scenic beauty and resorts could be leased and outsourced to credible and popular groups in hotel and tourism business that would result in bringing good returns.

In a bid to implement the proposed austerity plan to raise funds, the cabinet also formed two committees. The first heritage committee was formed, under the chairmanship of Federal Minister for Education and Professional Training and National History and Literary Heritage Shafqat Mahmood, to prepare a list of buildings and present recommendations.



The second committee was formed, under the chairmanship of Finance Minister Asad Umar, to decide the alternate use of public properties. It was also decided that luxury cars being used in governments would be auctioned in a transparent manner to raise money.

It was also recommended that ministers follow cost saving measures in offices. The cabinet also imposed a complete ban on medical treatment abroad of all cabinet members effective immediately.

Officials said that the cabinet also decided that it will not force the provincial governments to impose cost cutting measures as there would be another tussle between federal and provincial governments.

Published in The Express Tribune, August 28^th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.