Nisar for evolving mechanism for speedy settlement of investment dues in One Constitution Avenue

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ISLAMABAD, Mar 10 (APP): Minister for Interior, Chaudhry Nisar Ali Khan on Friday directed Capital Development Authority (CDA) to approach buyers so as to evolve a mechanism for speedy settlement of their investment dues in One Constitution Avenue.
He was chairing a meeting held here to look into issues relating to One Constitution Avenue after landmark judgment of Islamabad High Court into the case.
Chairman CDA, Secretary Interior, Advocate General, senior officials of FIA and Interior Ministry attended the meeting.
Ch. Nisar directed FIA and office of Advocate General to take up case with Islamabad High Court for vacating stay order in respect of Agency’s inquiry against builder and CDA officials in One Constitution Avenue case.
He said activation of FIA’s inquiry must ensure that every penny of national exchequer is recovered and those who have been partners in this mega corruption are brought to book.
It is worth mentioning that FIA was probing into the matter of mega corruption in One Constitution Avenue on directions of the Minister to investigate massive loss caused to national exchequer.
The inquiry was aimed at bringing all those CDA officials to justice who were negligent in performance of their duties and were conniving with building owner.
It emerged during the course of FIA’s investigations that a loss of over Rs. 33 billion has been caused to national kitty in leasing, construction and sale of apartments of One Constitution Avenue.
During the FIA’s inquiry, it was revealed that one of the precious lands of Capital located at prime location was leased for 99 years on much cheaper rates as compared to actual market worth at that time. The dubious leasing process had cost billions of rupees loss to national exchequer.
It also surfaced during the inquiry that allegedly scope of work was changed illegally with connivance of CDA officials which resulted in construction of residential apartments sold, instead of construction of serviced apartments which were to be constructed besides a Five Star Hotel.
Besides, post-bid terms and conditions were also changed as compared to pre-bid and illegal rescheduling of payments, elimination of bank guarantee and performance guarantees were revoked in a fraudulent manner.
The owner of the building was also unable to pay principal amount of Rs 3.6 billion and a markup of Rs. 6.7 billion.
The Minister directed FIA to follow zero tolerance approach against all those officials who had willfully trespassed their official duty and become an alleged partner in this white collar crime.
He also directed Additional Secretary of Interior Ministry to look into various options for alternative use of high-rise building and put up proposals in this regard for the Prime Minister’s consideration.