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An official residence of Pakistan Prime Minister Imran Khan has been put on rent as the country witnesses a financial crunch.

According to a report by Samaa TV, in 2019 the ruling Tehreek-Pakistan Tehreek-e-Insaf (PTI) government had planned to convert PM Imran's official residence into a university. Thereafter, Khan had vacated his house.

However, the federal government has dropped the previous plan and has decided to rent out the property.

With this new decision, now people will be allowed to hold cultural, fashion, educational, and other events at Pakistan PM's houses located at the Red Zone, Islamabad.

"Two committees have been formed for this purpose. They will be responsible for ensuring the discipline and decorum of the PM House are not violated during the events," Saama TV added.

The Pakistani media also said that the auditorium of Imran Khan's House, two guest wings, and a lawn can be rented out to generate funds.

High-level diplomatic functions, international seminars will also be held at the former principal workplace of the Pakistani premier.

Pakistan's economy has shrunk by $19 billion since Khan took office three years ago.

In the initial days in power, Khan took many austerity steps to cut down the government expenses to give respite to the country's economy.

Earlier, former finance minister Miftah Ismail remarked that the Imran Khan-led regime was "toying with the economy", adding that it had increased the loans of the government and state institutions by 45,000 billion.

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