Pakistan plans mortgaging biggest park to overcome ailing economy

Pakistan is considering mortgaging a biggest park in its capital, Islamabad, for getting a loan of around Rs500 billion to overcome ailing economy.

According to the Dawn, the government of Pakistan has decided to mortgage the F-9 park (Fatima Jinnah Park) of the federal capital to get a loan of about Rs500bn through issuing bonds.

The Capital Development Authority of Islamabad has already issued a no-objection certificate in this regard. The federal cabinet of the country would take the final decision.

Earlier, a number of institutions, buildings and roads have been mortgaged during the tenures of successive governments to get loans through national and international bonds.

The F-9 park is a public recreation park spread on 759 acres of land. The park is one of the largest covered green areas in Pakistan.