WASHINGTON – Pakistani government raised $7.1 million by selling building associated with its former embassy in Washington.
The crisis hit the country, after receiving multiple offers, sold the historic building for $7.1 million as the premises remained vacant for the last two decades.
Pakistani business magnate Hafeez Khan reportedly bought the building which sits in the heart of the city. The building’s diplomatic status was revoked some five years back, which made it liable to pay taxes to the local government.
The former embassy building was earlier put up for auction and the government received several bids by up to $6.8 million. However, the bidding process was canceled without citing any reason.
Earlier this year, the historic building’s classification was downgraded, and it was marked Class 4 which means Blighted property due to its deteriorating condition.
Pakistan to sell old consulate building in US to avoid hefty taxes amid economic crisis
