Islamabad [Pakistan], January 24 (ANI): To overcome Pakistan's ailing economy, Prime Minister Imran Khan is considering mortgaging Islamabad's biggest park to get a loan of around Rs 500 billion.
According to a report by Dawn, the proposal to mortgage the F-9 park to get a loan of around Rs 500 billion will be included in the agenda of the next meeting of the federal cabinet, scheduled to be held on Tuesday.
The meeting will be held via video conference arranged at the Prime Minister's House and a committee room of the Cabinet Division.
The F-9 park, named after Madar-i-Millat Fatima Jinnah. is stretched over 759 acres of land. It is one of the largest covered green areas in Pakistan.
Citing reports, Dawn highlighted that this decision has been taken due to the financial issues being faced by the government.
This comes amid declining relations of Pakistan with its two biggest sources of foreign remittances and foreign exchange -- Saudi Arabia and the United Arab Emirates (UAE).
Last August, Saudi Arabia asked Pakistan to repay early a USD 3 billion soft loan, Islamabad tried to defuse the tensions by quickly dispatching its current army chief General Qamar Javed Bajwa.
However, Saudi Arabia did not budge from its demand.
The UAE, which is Pakistan's second-largest source of foreign remittances, has recently banned issuing work visas for Pakistani workers.
Foreign Minister Shah Mahmood Qureshi's recent visit to the UAE failed to lift the ban, to Islamabad's severe disappointment. (ANI)

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

Amid ailing economy, Imran Khan to mortgage Islamabad's biggest park to get loan