A bankrupt Pak selling its embassy in US

Pakistan has been subjected to memes for its 'begging' habit. Earlier, ex-PM Imran Khan used to beg even for construction of a dam. Now, the country is selling part of its embassy in the US for loose change.

New Delhi, Dec 30: Ever since money flow from the Arabs and the West, particularly the US, started diminishing, the economy of Pakistan has been in doldrums. The cash-starved country is now selling its embassy in Washington. Media reports say that the diplomatic property is being sold to meet the country's financial requirements. And guess who the buyers are? Among the bidders are a Jew while another one is an Indian.

Quite interestingly, the decision has come from the top as the sale has been authorised by none other than Pakistan's national cabinet. However, the reports claim that the property on sale is just one part of the embassy. Pakistan has had three diplomatic properties in Washington. This specific building is located on the R Street NW but hardly got renovated as Pakistan could not afford the cost. However, since it is now on sale, it may have to relook and reconsider renovation.

Jew, Indian among bidders

After selling its defence spaces as military bases to the US, this is another kind of selling from Pakistan. The media reports say that out of the three bidders, a Jewish group has put the bid at the highest for $6.8 million. An Indian realty group has also shown its interest by placing its bid at $5 million. In addition, a Pakistani realtor too has placed a bid at $4 million.

Interestingly, Pakistan, which is known for its anti-Israeli and anti-Semitic rhetoric, may have to sell the property to the Jewish group since it is the highest bidder. The Jewish group wants to build a synagogue inside the embassy. This may definitely irk the anti-Jewish mindset of most Pakistanis.

Loose change to run the economy

Pakistan has been subjected to memes for its begging habit. Earlier, its ex-PM Imran Khan used to beg for the construction of a dam. Now, the country is selling part of its embassy in America for loose change. Nevertheless, Pakistan which always had one or the other creditors after its formation, seems to have no banker now.

With a few million dollars more, Pakistan is trying to alleviate some of the "crunch" that it is going through. However, in the long run, the economy of Pakistan does not look in good shape. Not only that the Pakistani national currency is falling against all other major currencies but at the same time the national debt of the country has gone up significantly to PKR 60 trillion.

Will Pakistan be able to bring back its economy on track with the paltry change of a few million dollars from its embassy sale in the US?