The Sinking Economy! Islamabad Government Sells Watches after Auctioning Buffalos
_Vinayak Barot
The Islamabad Government reached to sell expensive watches to survive nowadays after auctioning buffalos a few days back. The economic condition of Pakistan is not well and the debt of the country rising steadily. The requirement for cash is also increasing in the country.
According to the media report, there are two kinds of auctions in Pakistan. The first is when you’re going bankrupt and decide to do a distress sale where you sell off all your assets and follow it up with a yard sale getting rid of luxuries that you don’t need. The second kind of auction is a whole different ball game, which tests your brand value even as you raise funds for a certain cause.
A desperate and cash-strapped Pakistan has had to auction everything, from luxury cars to buffaloes, in order to raise cash to stave off the desperate debt crisis and cash shortage the government faces. Other items put up for sale included 102 luxury cars including bullet-proof vehicles and four helicopters reserved for the use of the Pakistani cabinet.
The latest item to go off the block is apparently a watch gifted to PM Imran Khan worth USD 1 million if the opposition parties’ charges are to be believed. Not so long ago, there were reports that the Pakistan PM’s official residence has been put up for rent.
“The decision to auction off eight buffaloes for Rs 23 lakh! These buffaloes were kept at the Prime Minister’s residence and acquired by Nawaz Sharif (Khan’s predecessor) for his “gastronomic requirements”. Their market value was just about Rs 1.2 lakh but they sold for Rs 4-6 lakh because of the “sentimental value” attached to buying the Prime Minister of Pakistan’s personal buffaloes,” media report says.
However, the Support of the Pakistan government to the terrorists and their organizations is constantly swallowing the economy of Pakistan. Due to the terrorism and terror activities, many countries are not taking an interest to invest in Pakistan, even New Zealand, and the England cricket team had abandoned their tour due to security reasons.
It is very clear that the government of Pakistan is not strong enough to control terrorists and terrorist groups in Pakistan or they are allegedly not taking strong actions against terrorist groups.
