Prime Minister Dr Manmohan Singh today reiterated the UPA government's unwavering committment to the protection and promotion of the interests of minorities.

Inaugurating the National Waqf Development Corporation in New Delhi, Dr Singh said the corporation established with an authorised share capital of 500 crore rupees will facilitate and mobilize financial resources for starting schools, colleges, hospitals on waqf properties in a transparent manner.

He said the Prime Minister's 15 point programme and Multi Sectoral Development Programme are large initiatives focused on removing the development deficit which some minorities suffer from.

Refering to recently amended the Waqf Act to bring transparency, the Prime Minister said there are more than 4.9 lakh registered wakf properties in the country with an annual income of about 163 crore rupees.

Dr Singh, citing the Sachar Committee estimates, said waqf properties ifare developed properlythat , they could earn an annual income of about 12 thousand crore rupees.

Speaking on the occasion, UPA Chairperson Sonia Gandhi warned against communal and divisive forces. Mrs Gandhi said the UPA government has implemented most of the recommendations of the Sachar Committee and it has started yeilding results.

Noting that benefits of various programmes sometimes do not reach the targetted group, she emphasised on the need for their effective implemetation. Minority Affairs Minister K Rehman Khan termed the launch of National Wakf Development Corporation as a historic event saying a forty-year dream has been realised.

Referring to the strengthened role of Central Waqf Council, he said waqf properties cannot now be sold but only leased.