According to a report by Dawn, the proposal to mortgage the F-9 park to get a loan of round Rs 500 billion will likely be included within the agenda of the following assembly of the federal cupboard, scheduled to be held on Tuesday.
The assembly will likely be held by way of video convention organized on the Prime Minister’s House and a committee room of the Cabinet Division.
The F-9 park, named after Madar-i-Millat Fatima Jinnah. is stretched over 759 acres of land. It is one of the most important lined inexperienced areas in Pakistan.
Citing experiences, Dawn highlighted that this determination has been taken due to the monetary points being confronted by the federal government.
This comes amid declining relations of Pakistan with its two biggest sources of overseas remittances and overseas alternate – Saudi Arabia and the United Arab Emirates (UAE).
Last August, Saudi Arabia requested Pakistan to repay early a $3 billion comfortable loan, Islamabad tried to defuse the tensions by rapidly dispatching its present military chief General Qamar Javed Bajwa. However, Saudi Arabia didn’t budge from its demand.
The UAE, which is Pakistan’s second-largest supply of overseas remittances, has lately banned issuing work visas for Pakistani staff.
Foreign minister Shah Mahmood Qureshi‘s latest go to to the UAE failed to carry the ban, to Islamabad’s extreme disappointment.