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Mortgaging Pakistan - Newspaper

The writer is an economist and a Research Fellow at PIDE. THE news that there is a proposal to mortgage Islamabad’s F-9 park to get a loan led to anger across the country. Although the news has not been confirmed officially, and the prime minister reportedly opposed such a proposal, nobody should be surprised if it proves to be true. It would not be the first instance of its kind. We’ve had many assets mortgaged for loans, a practice that began in 2006 under that crafty banker Mr Shaukat Aziz, and later taken up by yet another wily operator Mr Ishaq Dar.

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