ISLAMABAD: The Senate Standing Committee on Privatisation has express concerns about the approval process regarding the auction of the former chancery building in Washington DC.
As a result, the committee has requested a report from the foreign ministry on this matter.
The Senate Standing Committee on Privatisation has raised serious concerns regarding the approval process for the auction of the old chancery building in Washington DC. The committee is informs that a meeting involving relevant ministries, including Finance, Foreign Affairs, and Privatisation, led to the decision.
However, the Secretary of Privatisation denied any involvement of the Privatisation Commission in the approval at any stage. Due to dissatisfaction with the approval process, the committee defers the matter for further reports. The deliberations to be conducts by the Foreign Ministry.
Pakistan’s Historic Building In Washington Sold For $7.1 Million
After months of effort, Pakistan’s historic building in Washington was successfully sell for $7.1 million to a businessman Hafeez Khan. The building had been vacant since 2003.
The new owner of the property is a Pakistani businessman Hafeez Khan. The government of the District of Columbia downgraded the property classification of the building, which increased the taxes on its assessed value. The local authorities changed the class status of the old and deteriorating building owned by the Pakistani government.
The building, known as the R Street building, was formerly a chancery. It was auction in late 2022, and the government received three bids. However, the Pakistani authorities later canceled the bidding process without a reason. The highest bid accepted was $6.8 million, surpassing the pre-auction evaluation benchmark of $4.5 million for the building in its current condition.
The house had been unoccupied. Its diplomatic status was revoke in 2018, making it subject to local government taxes. A businessman of Pakistani origin named Hafeez Khan purchased the property from the government for $7.1 million.
