In keeping with a report by Daybreak, the proposal to mortgage the F-9 park to get a mortgage of round Rs 500 billion will likely be included within the agenda of the subsequent assembly of the federal cupboard, scheduled to be held on Tuesday.
The assembly will likely be held through video convention organized on the Prime Minister’s Home and a committee room of the Cupboard Division.
The F-9 park, named after Madar-i-Millat Fatima Jinnah. is stretched over 759 acres of land. It is likely one of the largest lined inexperienced areas in Pakistan.
Citing reviews, Daybreak highlighted that this choice has been taken as a result of monetary points being confronted by the federal government.
This comes amid declining relations of Pakistan with its two largest sources of overseas remittances and overseas trade – Saudi Arabia and the United Arab Emirates (UAE).
Final August, Saudi Arabia requested Pakistan to repay early a $3 billion smooth mortgage, Islamabad tried to defuse the tensions by rapidly dispatching its present military chief Basic Qamar Javed Bajwa. Nonetheless, Saudi Arabia didn’t budge from its demand.
The UAE, which is Pakistan’s second-largest supply of overseas remittances, has not too long ago banned issuing work visas for Pakistani employees.
Overseas minister Shah Mahmood Qureshi’s latest go to to the UAE did not raise the ban, to Islamabad’s extreme disappointment.