ISLAMABAD – Corruption runs rampant in Pakistan, especially in the realestate sector. It has reached the height of disgust as two builders, withhelp from Pakistan Air Force (PAF) officials, have looted huge sums ofmoney from the public in a housing society for martyrs.
In a shocking scandal, the National Accountability Bureau (NAB) hasunearthed irregularities worth billions of rupees in PAF-owned FazaiaHousing Scheme Karachi.——————————
The fraud deprived the public of Rs 18.2 billion which they had invested inthe housing society for martyrs. NAB informed the accountability court thatdespite the fact that land was allocated for heirs of martyrs, only 30 outof 8,400 planned housing units were allotted to such families.
According to the reports, two builders from Maxim Properties, Tanveer Ahmedand Bilal Tanveer, were arrested by NAB Karachi before presenting them inan accountability court. The two were involved in the scam with the help ofPAF officials whose names have not been disclosed.——————————
The accountability watchdog also said that several overseas Pakistani tookan interest in the project because a reliable brand of PAF was involved.
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Over Rs 18 billion were collected by the detained builders in the form ofdifferent fee including form fees, registration, open certificate, standardand luxury apartments, surcharge, transfer fees, overseas apartments,overseas transfer fee, bungalows, the surcharge, transfer and proceedingsfee for the bungalows and direct deposits.
The accountability court has extended the physical remand of suspects by 14days.
