AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

The Supreme Court on Tuesday turned down Bahria Town's offer of Rs 358 billion for over 16,000 acres of land in Karachi for developing a housing society. A three-judge implementation bench, headed by Justice Sheikh Azmat Saeed, heard the matter regarding the implementation of the apex court judgement on Bahria Town projects in Karachi, Muree and Rawalpindi.
The Supreme Court in a 2:1 majority verdict on May 4, 2108 ordered Bahria Town not to sell or purchase any plot, built-up unit, apartment, etc, after the announcement of this verdict. The review petitions of Bahria Town have also been dismissed. Barrister Ali Zafar, appearing on behalf of Bahria Town, said that for 7,068 acres they offer Rs 150 billion, and for 9,828 acres they would give Rs 208 billion. The total amount Rs 358 billion for over 16,000 acres would be paid in instalments in eight years.
In the last hearing, Ali Zafar offered to pay Rs 250 billion to quash three cases related to land for developing housing societies in Karachi, Rawalpindi and Murree. He had argued that the market value of the land is Rs 2 million per acre but the Bahria Town is willing to pay Rs 3.5 million per acre.
Justice Sheikh Azmat said: "The offer does not appear to be reasonable." He asked the counsel to re-consider the offer. "You must go back to your client (Malik Riaz) and consult him again about the offer," the judge told Ali Zafar. Justice Azmat said if the amount would not be acceptable to the court then they would refer the matter to the NAB.
Deputy Commission Malir Shehzad Abbasi was directed to take possession of the land shown on the Survey General of Pakistan's map in purple colour and which the Bahria Town claims is not their land. "Any failure on this part will result in the criminal proceeding against you," Justice Azmat warned the DC Malir.
The court asked him to take help of any agency in carrying out the job and only take the state land and not the private land into possession. The DC was ordered to submit report about the details of land taken into possession in two weeks.
The court in its May 2018 judgement declared the grant of land to Malir Development Authority (MDA) by the Sindh government and its exchange with the land of Bahria Town illegal. The court declared that the grant of the land to the MDA, its exchange with the land of Bahria Town and anything done pursuant thereto being against the provisions of COGLA 1912 [Colonisation of Government Lands Act, 1912] and statement of conditions are void ab initio (illegal from the outset) and as such have no existence.

Copyright Business Recorder, 2019

Comments

Comments are closed.