Pak: Faced with an ailing economy, Imran Khan govt auctions eight buffaloes kept by Sharif at PM House

The auction of buffaloes was a part of the Prime Minister’s austerity drive through which he plans on cutting down government lavishness. Under the plan, the government auctioned 61 luxury cars last week, raising some Rs 200 million.

A Pakistani man looks on as he checks a buffalo during an auction at the premises of the Prime Minister house in Islamabad on September 27, 2018. The Pakistani premier’s house milked its livestock reserves on September 27 as dozens gathered for a buffalo auction in the capital Islamabad, during the latest push to Prime Minister Imran Khan's highly publicised austerity drive. / AFP PHOTO / AAMIR QURESHI

New Delhi: In a bid to help the famished economy of the country, Imran Khan’s government in Pakistan auctioned off octet of buffaloes kept by his predecessor Nawaz Sharif at the PM House which fetched around Rs. 23 lakh. As per a report in Dawn, the sale of all the eight buffaloes belonging to the PM house brought a total of Rs. 2,302,000 in the auction held in Islamabad. As per reports, the buffaloes were kept by former Prime Minister Nawaz Sharif for his gastronomic requirements. The auction of buffaloes was a part of the Prime Minister’s austerity drive through which he plans on cutting down government lavishness. Under the plan, the government auctioned 61 luxury cars last week, raising some Rs 200 million. In the auction of the buffaloes most of the cattle were bought by supporters of the three-time prime minister. Dawn newspaper reported that one buffalo was purchased by a certain Qalb Ali - a resident of Jhangi Sayedan who spent Rs 385,000 for it. Ali claimed that the animal's actual valuation was a mere Rs120,000  but said that he paid a premium on account of its sentimental value. He was quoted as saying "I purchased this buffalo owing to my affection for Nawaz Sharif," he said. "I will keep it as a symbol of Nawaz Sharif and our sister, Maryam Nawaz." Two of the four calves were purchased by Pakistan Muslim League-Nawaz (PML-N) worker Fakhar Warraich for Rs 215,000 and Rs 270,000. Another man purchased the third calf for Rs 182,000, Geo News reported. Sharif, 68, was sentenced to 10-years in jail in a corruption case in July. He was released on bail this month after a top court suspended the sentence. The Pakistani rupee has sunk by over 20 per cent in the past seven months owing to a balance of payment crisis. The last fiscal year ended with a current account deficit of USD 18 billion, 5.7 per cent of the GDP. The budget deficit has crossed 2 trillion rupees, according to media reports. To overcome the financial woes, Pakistan is mulling to go to the International Monetary Fund for another bailout package the 13th for the country since the 1980s. (Inputs from PTI)