Federal Minister for Information and Broadcasting Senator Shibli Faraz said that the Federal Cabinet has rejected the summary to issue Sukuk bonds against the mortgage of F-9 park. He said that some ministers are of the view that Islamabad Club should be mortgaged instead of the park.

Private news channels reported that PM was unhappy with the decision to mortgage the park and inquired as to who had suggested pledging F-9 park for Sukook bonds? The premier said, “The park should not be mortgaged even symbolically which is for public use. This has given the wrong impression.”

Prime Minister suggested that Islamabad Club or any other building should be taken as a pledge for Sukook instead of F-9 park, Shibli said.

Furthermore, the cabinet has asked the Ministry of Finance to provide a summary for mortgaging Islamabad club and present it before the Federal Cabinet in its next meeting.

Earlier, the government was considering to mortgage sector F-9 park to get a loan of Rs 500 billion and the proposal had been included in the agenda of cabinet meeting. A no-objection certificate has already been issued by the Capital Development Authority (CDA) for this.


Please enter your comment!
Please enter your name here