{"id":77304,"date":"2021-06-24T13:05:10","date_gmt":"2021-06-24T08:05:10","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=77304"},"modified":"2021-06-24T14:35:55","modified_gmt":"2021-06-24T09:35:55","slug":"govt-float-sukuk-bonds-budget-deficit","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-float-sukuk-bonds-budget-deficit.html","title":{"rendered":"Govt to float Sukuk bonds to support budget deficit"},"content":{"rendered":"\n<p>Islamabad: Federal Minister for Information Fawad Chaudhry on Tuesday announced that the federal government has decided to mortgage National Highways and three airports by issuing Sukuk Bonds, news sources reported. The move is aimed at raising money to support the budget deficit, save interest cost and promote Islamic Banking (IB).<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sukuk-oversubscription-shows-strong-market-confidence-pm.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sukuk oversubscription shows strong market confidence: PM<\/a><\/p>\n\n\n\n<p>According to the details, the government\u2019s decision to mortgage various sections of motorways and other national assets for large-scale borrowing through issuance of Sukuk bonds has been approved by the federal cabinet. The details of the national assets collateral to be mortgaged is as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Islamabad Expressway<\/li><li>Islamabad-Peshawar Motorway<\/li><li>Pindi Bhattian-Lahore motorway section<\/li><li>Lahore Airport<\/li><li>Islamabad Airport<\/li><li>Multan Airport<\/li><\/ul>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pmrc-issues-sukuk-to-promote-housing-finance.html\">\u2018Innovat<\/a><a href=\"https:\/\/www.zameen.com\/news\/pmrc-issues-sukuk-to-promote-housing-finance.html\" target=\"_blank\" rel=\"noreferrer noopener\">i<\/a><a href=\"https:\/\/www.zameen.com\/news\/pmrc-issues-sukuk-to-promote-housing-finance.html\">ve\u2019 sukuk issued to promote housing financing<\/a><\/p>\n\n\n\n<p>The sources have reported that the interest rate is lower on Sukuk bonds that will save additional money.<\/p>\n\n\n\n<p>Previously, the government chose to mortgage Islamabad&#8217;s <a href=\"https:\/\/www.zameen.com\/news\/cda-directed-address-plea-seeking-ban-drive-in-cinema-f9-park.html\" data-type=\"post\" data-id=\"73937\" target=\"_blank\" rel=\"noreferrer noopener\">F-9 park<\/a> and the Islamabad Club. However, due to outcry from various parts of society, the idea was scrapped. The alternate option is to mortgage certain portions of the highways and three major airports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Federal Minister for Information Fawad Chaudhry on Tuesday announced that the federal government has decided to mortgage National Highways and three airports by issuing Sukuk Bonds, news sources reported. The move is aimed at raising money to support the budget deficit, save interest cost and promote Islamic Banking (IB). Read: Sukuk oversubscription shows strong market confidence: PM According to the details, the government\u2019s decision to mortgage various sections of motorways and other national assets for large-scale borrowing through issuance of Sukuk bonds has been approved by the federal cabinet. The details of the national assets collateral to be mortgaged is as follows: Islamabad Expressway Islamabad-Peshawar Motorway Pindi Bhattian-Lahore motorway section Lahore Airport Islamabad Airport Multan Airport Read: \u2018Innovative\u2019 sukuk issued to promote housing financing The sources have reported that the interest rate is lower on Sukuk bonds that will save additional money. Previously, the government chose to mortgage Islamabad&#8217;s F-9 park and the Islamabad Club. However, due to outcry from various parts of society, the idea was scrapped. The alternate option is to mortgage certain portions of the highways and three major airports.<\/p>\n","protected":false},"author":84,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[46455,46454],"persona":[],"class_list":{"0":"post-77304","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-federal-cabinet-approved-mortgaging","9":"tag-sukuk-bonds-for-islamic-banking","10":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to float Sukuk bonds to support budget deficit - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Federal Minister for Information Fawad Chaudhry on Tuesday announced that the federal government has decided to mortgage National Highways and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-float-sukuk-bonds-budget-deficit.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to float Sukuk bonds to support budget deficit - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Federal Minister for Information Fawad Chaudhry on Tuesday announced that the federal government has decided to mortgage National Highways and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-float-sukuk-bonds-budget-deficit.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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