Islamabad Club mortgaged as guarantee for launching Sukuk Bond

Federal Cabinet confirms Sheikh Azmat Saeed as head of Broadsheet probe committee

By: News Desk      Published: 05:16 PM, 26 Jan, 2021
Islamabad Club mortgaged as guarantee for launching Sukuk Bond
File photo.

The Federal Cabinet has rejected the Finance Ministry's summary to mortgage F-9 Park in Islamabad as a guarantee for launching the Islamic-denominated Sukuk bond. Instead, it decided to mortgage the Islamabad Club, reported 24NewsHD TV channel, quoting its sources. 

“A national property will not be mortgaged for the Bond,” the Prime Minister said.

The Prime Minister inquired how the suggestion of issuance of Sukuk Bond against pledging of F9 Public Park, also known as Fatima Jinnah Park, came up on which the secretary finance said for Sukuk Bonds are Islamic bonds and for that land value ought to be determined and it is just symbolic not in practical.

Imran Khan directed not to pledge the parks even if it is symbolic as it conveyed a wrong message.

The Cabinet also ratified the decisions of the Economic Coordination Committee, the sources said.

The cabinet members were also told that exports increased despite coronavirus.

The Cabinet also directed the Darulaman and Safe Houses to be handed over from Social Welfare Department to the Women Development Department.

The cabinet meeting also discussed the overall political and economic situation of the country and also reviewed matters pertaining to the procurement of anti-Covid vaccine.

Broadsheet case

The federal cabinet also approved the name of Justice (retd) Sheikh Azmat Saeed, former Supreme Court judge as head of the Broadsheet Inquiry Committee. The cabinet also discussed the appointment of members for the Broadsheet case.

Corona vaccine

The cabinet also approved the involvement of the private sector in the procurement of the coronavirus vaccine. 

The cabinet also agreed that the price of the vaccine should not be higher than other countries in the region. The private sector will also be able to purchase coronavirus vaccine. The cabinet also allowed donors to donate the coronavirus vaccine.