x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Centre counters J&K governor on Pulwama attack, denies intel failure | Heat wave prevails in Jammu | Northern Army Commander reviews security arrangement for Amarnath yatra | Stone pelting incidents declined in Kashmir: MoS for Home Affairs | Shah reviews security situation in J-K on his maiden official visit | Meet IPS officers Arvind Kumar, Samant Kumar Goel – the new chiefs of Intelligence Bureau, RAW | Terrorist with links to LeT and Zakir Musa shot dead in Pulwama encounter | 'Mohalla'' committees to tackle drug menace in Jammu | Amit Shah J&K visit: Security beefed up, travel restrictions imposed before maiden trip to state | Militant killed in Tral encounter, identity being ascertained | Kashmir based candidates get extension, Jammu candidates ignored | Govt set to resurrect, give teeth to SAC | RTI reveals mass bungling in Auqaf-run school, BEd college | Hurriyat desperate for talks but Shah unlikely to give importance to anti-national outfits | 'Teach Pak stooges a lesson, don't talk to them' | Differences surface in Hurriyat on talks | Scores of elderly people left out to take benefit of social welfare schemes | Finally, makeshift bridge set up at Budgam playground | DySP fudges quantity of seized heroin to save accused | Jammu leaders ignored youth, says Munish | Will distribute my salary among needy' | Mass contact programme on, people welcoming Munish with open arms | B Ed students set to miss NET examination due to clash in exam dates, authorities unmoved | J&K Bank's Information Security officer bags CSO100 Award | Shri Amarnathji Yatra Mobile App developed | ACB launches call, Whatsapp helpline | Rana seeks toll exemption during Amarnath Yatra in Jammu region | Leopard found straying on Kishtwar road, video went viral | Bail denied in 'attempt to murder' case | Advisor Kumar discusses strategy to handle drug abuse in JK | CVC reviews status of pending cases in Kashmir division | Government's 'Back to Village Programme' | 26th June - Say no to drugs | A Mela Common to Indo-Pak at IB; Chamaliyal | Border villagers plight as a result of delay in setting up bunkers | Drainage, Garbage dumping main issue in Trikuta Nagar Extn area | Crackdown launched on illegal selling of tobacco products in Srinagar | Finally, makeshift bridge set up at Budgam playground | Power shutdown | Neglected Bahu Fort-Sheikh Nagar crave for 'vikas' | 'Admin eager to close down our momo business' | Back Issues  
 
news details
Imran Khan's austerity drive fails to impress as govt cars' auction stops in first gear
9/18/2018 12:02:18 PM
ISLAMABAD: Lower-than-expected sales in an auction of Pakistani government vehicles have dealt another early setback to new Prime Minister Imran Khan's populist vow to raise quick revenues through cost-cutting, a campaign that has drawn both praise and ridicule.

The auction on Monday raised about 200 million rupees ($1.6 million), government official Mohammad Asif told local Geo TV. That is just one-tenth of the amount he had predicted, and only 61 of just over 100 vehicles were sold.

The event had been billed as part of Khan`s drive to give "the nation`s wealth to its rightful owners". Critics say most of the measures so far are more symbolism than significant savings
Former cricket star Khan, 65, took office last month after an election campaign in which he railed against what he denounced as corruption and waste by the two main political parties that ruled for than 50 years in between periods of military rule.

Khan promised to cut costs, including trimming motorcades of government officials and selling public land. "It is a change of mindset," he said in a speech on Friday. "I will be counting every single rupee I have to spend on me."

Khan's campaign, however, has been somewhat undercut by his near-daily helicopter commute from his home in the hills surrounding Islamabad.

Critics say the cost-cutting so far has been mostly cosmetic. "There is nothing new in the current austerity drive," said political commentator Raza Rumi.

Auctions of ageing government vehicles, for example, have taken place for years, with less publicity.

Nearly three-quarters of the 101 vehicles on offer on Monday were more than 10 years old. Two were 32-year-old Toyota Corollas. And the total sales indicated little interest for the event`s showcase items - bullet-proof Mercedes estimated at about $1.5 million each.

IDEAS

The auction revenue is dwarfed by the government`s fiscal deficit, projected this year for 1.7 trillion rupees. However, information minister, Fawad Chaudhry, said even symbolic steps were important for building national unity and small savings could add up.

"If you try to see its effect on the GDP, it is small, but in numbers, it is not small," Chaudhry told Reuters.

Pakistan is likely to soon face painful conditions for foreign financing - possibly an International Monetary Fund bailout - to address dwindling foreign currency reserves and a ballooning current account deficit.

Still, reaction to the new government`s austerity drive has been mixed.

When Foreign Minister Shah Mehmood Qureshi announced he would not fly first class, only business class, while abroad, many pointed out this was already the case under the previous government for most trips.

Other early ideas - to cut some 500 staff from Prime Minister House and establish a six-day work week for civil servants - were shelved as unworkable.

HELICOPTER OPTICS

In particular, Khan has been mocked for taking a helicopter into Islamabad most days, after declaring he would eschew luxury perks.

Information Minister Chaudhry argued that the helicopter uses less fuel than a motorcade, saying at one point it cost only 50 rupees (40 cents) per kilometre. That calculation provoked ridicule.
"Why don`t you stop metro bus service and instead let people enjoy the cheap helicopter rides?" quipped a TV host.

In fact, Khan`s helicopter costs about 200,000 rupees ($1,633) per hour factoring in fuel, crew, maintenance and inspections, Syed Naseem Ahmad, president of the Society of Air Safety Investigation Pakistan told Reuters.

Optics aside, analysts say Pakistan will have to take more painful policy cuts in government spending to truly reduce the deficit. The new government on Monday did raise gas prices by 10 to 20 percent.

A further indication of a wider austerity policy is likely to come on Tuesday, when Finance Minister Asad Umar announces revisions to the budget.

There were about 500 attendees at Monday`s auction and some were happy to take the vehicles off the government`s hands.

Nawab Gul bought a 2005 Toyota Altas for 1.25 million rupees ($10,000). "They are saying the national coffers are empty. So, here, have my two cents," Gul said.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU