After a cabinet meeting on Tuesday, Federal Information Minister Fawad Chaudry announce that the Pakistani government will mortgage the country’s major airports and highways and releasing Sukuk bonds.
The information minister further said that the initiative was being taken to encourage the Islamic banking sector.
Sukuk bonds will be released, and loans will be considered off, maintaining Islamabad Expressway, Islamabad-Peshawar Motorway, Pinid Bhatia-Lahore motorway section, and airports of Lahore, Islamabad, and Multan as a security deposit.
As per sources, the Federal filing cabinet endorsed summary information to mortgage state-owned assets for larger-scale loans via the granting of Sukuk bonds. They also stated that now mortgages will be made available on significantly lower interest.
