Government Mortgaged Country’s Largest Assets and Property

 

Baaghi TV: The federal cabinet has approved the issuance of domestic and international sukuk bonds in exchange for government property. National highways and airports will be mortgaged for the bonds. These include Islamabad Expressway, Islamabad-Peshawar Motorway, Pindi Bhattian, Lahore Section, Lahore and Multan International Airport.

Islamabad’s Fatima Jinnah Park has been removed from the list of assets that the finance ministry wants to mortgage to international and local lenders. However, according to Finance Ministry sources, three highways (motorways), three international airports and the Islamabad Expressway have been added to the list.

The finance ministry has appealed to the federal cabinet to support the government’s budgetary position and to issue sukuk bonds in local and global markets to boost the Islamic banking industry. The federal cabinet will decide on these issues. A mortgage loan is cheaper than a conventional loan.