Watch: Cash-starved Imran Khan govt auctions 8 buffaloes kept at PM House

ISLAMABAD: Days after auctioning a fleet of luxury cars earlier this month, the cash-starved government of Pakistan on Thursday sold eight buffaloes bought by former prime minister Nawaz Sharif for his "gastronomic requirements". The animals, five calves and three buffaloes, were sold for Rs 23 lakh in an auction at the PM House and the amount was paid in cash. Three calves were reportedly purchased by the previous PML-N government for Rs. 667,000 and three buffaloes for Rs. 1,015,000. According to Geo News, there emerged a heated debate between the bidders during the auction as a "prospective buyer complained that the animals were not as expensive" as the quoted price. After the argument, the authorities said those who did not agree with the quoted prices could leave, the report said, adding that the official demanded that a cash payment has to be made. Most of the bovines were purchased by supporters of Nawaz Sharif, Dawn newspaper said. Of the eight buffaloes sold, one was purchased by a Sharif supporter, Qalb Ali, who spent Rs 385,000 for the animal. Though the animal's actual valuation was a mere Rs 120,000, Ali, a resident of Jhangi Sayedan, an area close to Islamabad, said he paid triple the amount on account of its sentimental value. "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 (Sharif's daughter)." Facing huge debts and liabilities, Prime Minister Imran Khan has launched a massive austerity drive. Under the plan, the government auctioned 61 luxury cars last week, raising some Rs 200 million.

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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. (With input from PTI)