Bahria Town Offers Rs 358 Bn to offset the charges against Illegal Land Acquisition and Donations for Dam Construction

The Supreme Court on Tuesday rejected Bahria Town's offer to deposit Rs250 billion to avoid legal proceedings for illegally acquiring land for its projects in Karachi, Islamabad, and Murree. The esteemed judges discovered Bahria Town blameworthy of having unlawfully gained a large number of sections of land for the huge undertaking in Malir region in intrigue with government authorities.

An execution seat of the Apex court was hearing a case relating to the usage on a May 4, SC decision against Bahria Town. Under the request, the court had banished M/s Bahria Town Karachi from moving any plot or built loft in the lodging plan on the edges of the port city, announcing the give of land to the Malir Develop­ment Authority and its trade with the place where there is the private land designers illicit and void ab initio.

At the beginning of the present hearing, a direction in the interest of Bahria Town offered to submit Rs200 billion to defer off charges against the land engineer. Equity Azmat Saeed, who was going the three-part seat, reminded the direction that a fine of Rs285 billion had been forced on Bahria Town in 2004. "On the off chance that the fine cash is expanded by 40 percent, it will add up to Rs358bn."

Upon hearing the statement of SC, Mr. Malik Riaz decided to offer Rs.358 Billion to avoid NAB interference and immediately drop charges filed against illegal land acquisition to which the judges stayed neutral and commented on the act as “reasonable”. It is important to bear in mind that there is a fair proportion of likelihood that the Supreme Court will drop the charges and inquiry on the matter by accepting the exorbitant amount of money as a penalty. And as soon the legalities and land ambiguities clear up in the face of the law, the development in areas of Bahria Town Karachi and Islamabad will resume at a killing pace. The future of Bahria Town does seem grey at the moment but the confusions will vanish in a matter of short time and construction of houses and investment activities in Bahria Town will commence again exhibiting positive vibes from customers.

Bahria Town Private Limited is a humongous entity with awe-inspiring acres of land under its name that provides housing solutions, recreational facilities, security and employment to large masses of the country. Bahria Town Owner Mr. Malik Riaz has also contributed a massive amount of Rs.60 Million in Diamer-Bhasha and Mohmand Dam reserves. There is a dire requirement for dams as Pakistan may experience the ill effects of water deficiency sooner rather than later. Such major contributions in Dam Construction speaks volumes on the genuine concern for Pakistan Infrastructure Development by Bahria Town Private Limited. It is also to assure every investor who has invested in residential and commercial plots in different sectors in Bahria Town Karachi and Islamabad to stay-put and relieve themselves of tension. Soon the troubled waters will swish away and Green flags are waved to Bahria Town you will be turned over possession of homes and plots and social development work will undertake right away.

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