ISLAMABAD: In a decisive move, Prime Minister Shehbaz Sharif on Sunday constituted a three-member inquiry committee to probe into the controversial sale of 500 acres of land at Port Qasim Authority (PQA), and send back report in two weeks.
This development follows revelations by Senator Faisal Vawda, Chairman of the Senate Committee on Maritime, who exposed a staggering Rs60 billion corruption scandal, implicating a federal minister in “criminal negligence.”
A notification from the Prime Minister’s Office said that the land was designated for small and medium industrial parks. The newly formed committee will scrutinise the financial irregularities surrounding its leasing.
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The committee will be led by the Chairman of the Prime Minister’s Inspection Commission, with Intelligence Bureau (IB) Director Sirajuddin Amjad and Federal Investigation Agency (FIA) Director Syed Shahid Hussain as its members.
The inquiry will focus on the financial discrepancies in the leasing of the PQA land intended for small and medium-sized industrial parks.
Furthermore, it will assess the considerations made by the PQA Board regarding an out-of-court settlement with the petitioner. As outlined in the terms of reference (ToRs), the committee will investigate whether PQA re-evaluated the land’s worth prior to the settlement and if current market values were factored into their decision-making.
Additionally, the committee will explore why the settlement offer was not promptly rescinded after the petitioner declined it. It will also identify governance challenges that led to delays in resolving the matter.
The committee has the authority to appoint additional members if needed to aid in the investigation, with the Ministry of Maritime Affairs providing secretarial support. A report is expected to be submitted to the Prime Minister within two weeks.
Copyright Business Recorder, 2025
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