PM opposed mortgaging of F9 park, majority agreed on mortgaging Islamabad club in a federal cabinet meeting

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Prime Minister Imran Khan opposed the mortgage of the public park to increase foreign exchange, after which it was decided to mortgage the Islamabad Club instead of the F-9 Park in the federal capital for the issuance of sukuk bonds.

The issue of issuance of sukuk bonds to increase foreign exchange reserves was discussed at the weekly meeting of the federal cabinet in Islamabad. PM Imran Khan, while opposing the issuance of sukuk bonds, asked why was it proposed to mortgage F9 Park built for?

The finance secretary said in the briefing that sukuk bonds are Islamic bonds, thought to issue sukuk bonds to correct past mistakes, mortgaging any asset in return is only symbolic, in practice it does not matter, it But a federal minister said that if it was symbolic then the President would have kept the house, what happens there?

PM Imran said on the occasion that he knows what a sukuk bond is, the park should not be symbolically mortgaged in public use, it gave the wrong impression, if it is not mortgaged in practice. The Prime Minister’s House would be mortgaged. Public Park should not be mortgaged.

The federal cabinet meeting proposed to mortgage Islamabad Club for issuance of sukuk bonds instead of F-9 Park, which was agreed upon by a majority of cabinet members. Sources said that the finance ministry would soon submit a summary for the issuance of sukuk bonds in exchange for the Islamabad club.

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