News and Current Affairs

Pakistan Set to Leverage Dubai Expo to Reinvigorate Property Market

Dec 11, 2019

All eyes will be on the United Arab Emirates as the Dubai expo is less than a year away. Touted as the greatest exhibition on Earth, the expo will be a game changer in the region. Experts and enthusiasts predict the grand carnival to open more than 270,000 jobs as well as an economic boom of more than $40 billion for the U.A.E.

As a strategic partner of the United Arab Emirates, Pakistan is also poised to take part in the Expo and recently, Prime Minister Imran Khan vowed to get rid of precious under-utilized property at the expo. The statement is in line with PM’s vision of austerity; and till now, this approach is paying rich dividends – given the vast improvement in the country’s economic conditions.

 

Striding towards a Naya Pakistan

Imran Khan is known for having intense and tedious discussions on national matters every Tuesday with his team members. In one of the latest meetings, the premier signaled his troops to leverage the upcoming Dubai Expo and sell the unutilized properties.

This is certainly a praiseworthy effort, as it will not only help our economy but open doors for investors to put money in the country. It is reported that the funds generated from the sale will be spent on public welfare projects – with special focus on the underprivileged classes.

Utilization of properties worth billions of rupees will help generate funds which will be spent by the government on public welfare schemes such as schools, colleges, hospitals. It is an important component of the government’s policy”, said the premier.

  

Ghosts of the Past

It was brought in the knowledge of the Prime Minister that corruption and negligence on part of the previous governments led to the under-utilization of valuable government properties. It is shocking to understand that despite having properties in surplus, the government institutions bear losses in billions every year.

These lavish properties have certainly become ghosts of the past, and Imran Khan is right to absolve the taxpayer of bearing their heavy costs. The meeting, which was attended by PTI’s top officials, culminated with Khan warning to take strict actions against officials who would prevent the government’s action.

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