ISLAMABAD, Pakistan: The Ministry of Privatization has auctioned and sold five government-owned properties located in Islamabad.
The sold state-owned properties included two penthouses at Islamabad Country Club, two apartments one in Centaurus Mall F-8/4 and other located at PHA apartments in G-7/2.
The maximum interest was seen in the land sold at Pir Sohawa with bidders substantially increasing their bid till the final call of the highest bidder.
During the auction, the Privatization Ministry ensured that a transparent process is followed and all eligible bidders were given a fair and equal chance to actively participate in the bid.
The bidding was conducted by the financial advisors in the presence of media and was dully monitored by the auction committee comprising of senior officials of the ministry.
The Federal Minister for Privatization Mohammad Mian Soomro was present all through the auction.
As a result of bidding against the reserve price of Rs 140.525 million, the Ministry Of Privatization was successfully able to raise Rs 156.45 million for the national exchequer.
It was the inaugural session for the auction of the federal government properties held in Islamabad on Monday.
The Federal Minister for Maritime Affairs Ali Haider Zaidi was the chief guest while Mohammad Mian Soomro and the Prime Minister’s Special Assistant on Overseas Pakistanis and Human Resource Development Sayed Zulfiqar Abbas Bukhari also attended the inaugural session.