The government of Pakistan has been demanding loans for several times to have new projects in the country. Recently these debts or loans have exceeded to $75 billion.
Nowadays, the loan taking procedures are too hard. Local and international both institutions are not willing to offer loans. For this purpose , one have to submit an approved undertaking to avail the amount of debt.
Due to such strict procedures, Pakistani government in order to take loan, puts few national assets as mortgage in trading more loans.
These are Islamic bonds, and in such type of loans, loan takers receive their money back without an Islamic law’s violation. In such loan sharing system, the authority undertakes all assets shown by loan taker and investors have partial possessions here.
Jinnah International Airport Karachi
In 2013, the similar bonds were exchanged where Jinnah International Airport Karachi was used by the Pakistani government as an assurance for this bond. Pakistan has taken RS. 182 billion in this bond.
It’s not for once to be used as mortgage, but Karachi airport has been using as an exchange for many time.
National Highways and Motorways Mortgaged
Currently, the government of Pakistan wishes to have Sukuk bonds in order to take $500 million, later the demand was increased up to $2.4 billion.
Then, the government again have made a plan to mortgage Islamabad-Chakwal section and to have $1 billion.
Again in 2014, Pakistani government had a request to M2 motorway of Hafiz Abad-Lahore to have $ 1 billion in Suckuk bond.
In June 2014, the government borrowed Rs. 49.5 billion by mortgaging the Faisalabad-Pindi Bhatian Motorway (M3).
Pakistani government took 49.5 billion loan through Faisalabad-Pindi Bhatian Motorway (M3) In June 2014.
An information tells that Pakistan is about to mortgage all assets of PTV as a security amount.As we all know that PTV assets have a great value and worth to be used as mortgage.
We are not sure about this leaked information but as these are taken from some official sites so their authenticity can be claimed.
61 buildings of radio Pakistan are have a worth of only R.s 72 crore, what is regarded to be the price of only one building.
Through such degraded values of precious buildings, the investors only do make themselves privileged.
Another aspect questioned by the experts is that national radio holds the most importance in times of war and with matters heating up between India and Pakistan, we could lose an important national security asset if the government fails to return the loan on time.
Our country has much disputes with India, but on the other hand has a bonding to take loan. One investigation in this regard shows that if Pakistan didn’t submit the taken amount on due date, we will about to lose our assets.