Pakistan's UNIQUE strategy to curb ECONOMIC crisis: Sell embassy property in America

Pakistani officials have maintained that neither the new nor the old embassy buildings displayed on social media are up for sale.

The Pakistan government is trying hard to take its beleaguered economy out of the crisis. While debt restructuring or seeking monetary assistance from international organisations may be some of the steps, Pakistan has found a UNIQUE way of curbing its economic crisis and that is - selling its embassy properties. You may recall that Greece sold its islands to help its economy. But since Pakistan has no islands, it has decided to sell diplomatic properties that it’s hoping will fill its coffers.

According to a report by Dawn, Pakistan has listed one of its diplomatic properties in Washington for sale. The property is located on the prestigious R Street NW. Pakistani officials have maintained that neither the new nor the old embassy buildings displayed on social media are up for sale.

The building used to house the Pakistan embassy’s defence section between the 1950s and 2000s. Officials have reportedly confirmed that the authorities are following due procedure and after the sale advertisement was published in the newspaper, the embassy has received several bids as well. The embassy is also looking at options like selling the building in its present condition or selling it after renovation. For this, they are looking to appoint an appraiser. 

According to reports, the present embassy building was constructed in the early 2000s while the old embassy was located on Massachusetts Avenue, close to the Indian embassy.

The report said that the Pakistan embassy spent close to seven million dollars in renovating the old building and the nearby official residence of the ambassador. Many people questioned the massive amount spent on the renovation as they demanded a probe into it. 

Reports suggested that the R Street building, which is up for sale, is in a dilapidated condition. Nearby residents want the building to be renovated or razed to the ground. The building which is being sold was purchased by Ambassador Syed Amjad Ali between 1953 and 1956.