Pakistan is considering mortgaging Islamabad's biggest park to get a loan of around 500 billion PKR, a media report said
Pakistan is considering mortgaging Islamabad's biggest park to get a loan of around 500 billion PKR, a media report said. The park is one of the largest covered green areas in Pakistan.
As per a Dawn news report, the proposal has been included in the agenda of the meeting of the federal cabinet scheduled to be held on Tuesday.
The meeting will be held through video link conference system which has been arranged at the Prime Minister's House and a committee room of the Cabinet Division.
Due to financial issues the government led by Prime Minister Imran Khan has decided to mortgage the F-9 or Fatima Jinnah Park of the federal capital to get the loan through issuing bonds. It is named after Fatima Jinnah, the younger sister of Pakistan's founder Muhammad Ali Jinnah.
The Capital Development Authority has already issued a no-objection certificate in this regard.
Earlier, a number of institutions, buildings and roads have been mortgaged during the tenures of successive governments to get loans through national and international bonds.
A public recreation park, it spread on 759 acres of land.