Govt for a Rs 500-cr corporation to develop Wakf properties
The government has decided to speed up the process of setting up a corporation with a Rs 500-crore corpus to develop Wakf properties.
New Delhi: With an eye on elections, the government has decided to speed up the process of setting up a corporation with a Rs 500-crore corpus to develop Wakf properties and use the increased income from it for the benefit of the Muslim community.
In this context, the members of the Central Wakf Council, headed by Minority Affairs Minister K Rahman Khan and comprising senior officials from the Ministry, will meet here tomorrow to discuss the National Wakf Development Corporation.
"Members of the Wakf council, headed by the Minority Affairs Minister, will attend the meeting to discuss the proposal to set up the corporation," a senior official of the council said.
The proposed corporation will be under the council with the government having a share of 51 per cent and Wakf boards 49 per cent, he said.
"It will be set up on the lines of National Buildings Construction Corporation with an aim to develop Wakf properties into commercial complexes, shopping malls, banquet halls and ensure their proper commercial utilisation," the official added.
According to sources, the UPA government is pushing the proposal and wants to set up the corporation during its tenure.
Minority Affairs Minister Khan had told Parliament last month that a Wakf corporation would be set up with a corpus of Rs 500 crore for development of the properties.
He had said the proper commercial utilisation of Waqf properties could generate revenue to the tune of Rs one lakh crore annually, sufficient for socio-economic development of the entire Muslim community.