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ISLAMABAD, Nov 04 (APP): Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry informed the upper house on Tuesday that the Abandoned Properties Organization (APO) had made its last investment on April 21, 2016, which is scheduled to mature on April 21, 2026.
Responding to a question regarding the details of APO’s investments in bonds, NIT units and shares, Dr Tariq Fazal Chaudhry said that several investments had been made in the past under the purview of the Abandoned Properties Organization. “The last such investment was made in April 2016, and its maturity period will end in April 2026,” he told the House.
He clarified that all such investments are made and maintained by a government entity, and not by any private firm. “As the organization is a public sector body, all accumulated funds remain under government control and will be transferred to the relevant account upon maturity,” he added.
Dr Tariq Fazal Chaudhry further explained that there are currently no new investments. “There is no ongoing investment at present,” he stated.
Responding to a supplementary observation by another member, the minister drew a distinction between Evacuee Trust Properties and Abandoned Properties. He said the two are governed by different laws and relate to separate historical contexts.
“The abandoned properties refer to assets left behind after 1971, when certain people migrated following the separation of East Pakistan. The Government of Pakistan established a dedicated department under prescribed rules and regulations to manage these properties, which remain state-owned,” he explained.
Dr Tariq Fazal Chaudhry added that while some members had proposed tracing the families or descendants of the original owners in Bangladesh, such matters could be examined at a later stage under a proper policy framework.