Prime Minister Imran Khan considers mortgaging Islamabad’s biggest park to get a loan of around Rs 500 billion to ease Pakistan’s ailing economy. According to reports, the plan to mortgage the F-9 park to get a loan of around Rs 500 billion will be incorporated in the plan of the next meeting of the federal cabinet, which will be a video conference scheduled to be held on Tuesday.
The F-9 park, titled after Madar-i-Millat Fatima Jinnah, spreads over 759 acres of land. It is one of the biggest covered green areas in Pakistan. Reports highlight that this decision is considered due to the financial issues being faced by the government.
Pakistan without its two biggest sources of foreign remittances and foreign exchange, Saudi Arabia and the United Arab Emirates (UAE), suffers a financial crisis. Last August, Saudi Arabia asked Pakistan to repay a $3 billion soft loan, prior to the actual due date. Islamabad tried to defuse the pressures by quickly sending its current army chief General Qamar Javed Bajwa for peace talks. However, Saudi Arabia did not stirfrom its demand.