Waqf assets can be used for development of community: Manmohan

Written by | January 29, 2014 | 0

New Delhi Jan 29 :Prime Minister Manmohan Singh on Wednesday said Waqf assets have the potential of generating considerable returns which could be used for socio-economic development of the community.

Launching the National Waqf Development Corporation Limited (NAWADCO) here, he said it will help facilitate and mobilise financial resources for starting schools, colleges and hospitals on Waqf properties in a transparent manner.

“Today we take another step forward in our efforts to promote the interests of minorities in our country,” the Prime Minister said.

“Waqf assets have the potential of generating considerable returns which could be used for socio-economic development of the community,” he said.

UPA chairperson Sonia Gandhi was also present at the inauguration of NAWADCO, a new central public sector enterprise under the Minority Affairs Ministry.

The Corporation is one of the several initiatives that the Minority Affairs Ministry has taken since its inception in 2006. Government has recently enacted the Waqf (Amendment) Act, 2013.

Filed in: National

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