ISLAMABAD: The federal government is considering mortgaging Islamabad’sbiggest park in F-9 sector to get a loan of around Rs500 billion.

The proposal has been included in the agenda of the meeting of the federalcabinet scheduled to be held on Tuesday.

The meeting will be held through video link conference system which hasbeen arranged at Prime Minister’s House and a committee room of the CabinetDivision.

Proposal to be discussed by cabinet on Tuesday

The agenda item No six, moved by the Finance Division, is “Issuance ofDomestic and International Ijara Sukuk Against Unencumbered Land of F-9Park, Islamabad”.

According to reports, due to financial issues the government has decided tomortgage the F-9 park of the federal capital to get a loan of about Rs500bnthrough issuing bonds.

The Capital Development Authority has already issued a no-objectioncertificate in this regard.

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