The Minority Affairs Ministry has mooted a proposal for creation of a corporation to look after and develop Wakf properties, amid allegations of improper management of over 4 lakh acre of such properties across the country.
The proposed Wakf Development Corporation would help develop these properties, especially for commercial purposes.
“We have moved a Cabinet note and there would be discussions now. We will try to have it at the earliest,” Minority Affairs Minister K Rahman Khan told PTI.
He said the corporation’s focus would be on big cities.
“The main thrust would be on finding commercial properties and developing them,” he said.
There are estimates which suggest that Wakf properties could generate an amount of Rs 10,000 crore annually, which would be a huge sum for the welfare of minorities, he said.
According to Khan, there are roughly 4 lakh acres of land under the control of various Wakf authorities but these are not being managed properly.
He said the corporation would identify Wakf properties, whose actual estimate varies.
Official sources said the corporation’s mandate would be to enter into a partnership with boards and trusts managing the Wakf land and lend them money so that they could develop it for commercial purpose.
“Most boards suffer from financial crunch and could not do any constructive work on the land under their ownership. We want them to develop it,” a source said.
Constituting a corporation for the purpose, Khan said, was one of the recommendations of Sachar Committee, which had looked into the social and economic conditions of minorities.
He said the corporation could help generate money which could be used to finance various minority welfare schemes.
“The money earned would be ploughed back into schemes for minorities,” he said.