To quell the weak Pakistani economy, the current Prime Minister Imran Khan is taking into consideration to mortgage the biggest park of Islamabad named “Fatima Jinnah Park” to get a loan of about 500 billion Pakistani Rupee. As per the reports, the mortgage proposal of F-9 park for getting a loan will be included in the agenda of the next scheduled meeting of the federal cabinet, which is on Tuesday.
This meeting is supposed to be held on a video conference. Will be arranged at the Prime Minister’s House and a committee room of the Cabinet Division.
The park is named after Madar-i-Millat Fatima Jinnah, she is the sister of Jinnah. The entire F-9 park is spread over 759 acres of land. It is apparently one of the largest covered green areas in Pakistan.
This mortgage is thought upon by the government of Pakistan under financial distress that the country is facing. This is also because of the shrinking relations of Pakistan with their two major sources of foreign remittance, which are Saudi Arabia and United Arab Emirates (UAE).
In the year 2020, in the month of August, Saudi Arabia called upon Pakistan to repay a soft loan of USD 3 billion before time. Though Islamabad tried to lessen tension by swiftly sending its current army chief General Qamar Javed Bajwa. But even after this try, Saudi Arabia did not shift from its demand.
On top of it, the UAE, which is one of the largest foreign remittance paying countries to Pakistan has recently banned issuing work visas for Pakistani workers. For which the Foreign Minister of Pakistan, Shah Mahmood Qureshi, visited the UAE but failed to lift the ban.