Home »Business and Economy » Pakistan » Bahria Town offers to pay Rs 250 billion
Bahria Town on Tuesday offered to pay Rs 250 billion to quash three cases related to developing housing societies in Karachi, Rawalpindi and Murree. Barrister Ali Zafar, representing Bahria Town, argued that the market value of the land is Rs 2 million per acre but Bahria Town is willing to pay Rs 3.5 million per acre.

Justice Sheikh Azmat Saeed, heading the three-member implementation bench, said that this is deliberately non-serious offer; therefore, the matter is end. A fine of Rs 285 billion had been imposed on Bahria Town in 2004. "If the fine money is increased by 40 per cent, it will amount to more that Rs 300 billion."

Upon that, the counsel stated: "We are willing to give Rs 200 billion for the three cases pending before this bench." When the court rejected the offer, Barrister Ali immediately increased it to Rs 250 billion for all three cases.

Justice Azmat stated that three separate verdicts had been passed against Bahria Town, so it should make "separate and reasonable" offers for its projects in Karachi, Islamabad and Murree.

"This is not a suitable way to deal with [the apex court]," said Justice Azmat, adding they may ask the National Accountability Bureau to file a reference against Bahria Town. Ali Zafar then sought one week's time to file a fresh proposal on three projects separately.

On May 4, 2108 a three-member Supreme Court bench comprising Justice Ejaz Afzal Khan, Justice Maqbool Baqar and Justice Faisal Arab in a 2:1 majority verdict ordered Bahria Town not to sell or purchase any plot, built-up unit, apartment, etc, after the announcement of this verdict. The case was adjourned for one week.

Copyright Business Recorder, 2019


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