ISLAMABAD – Supreme Court Wednesday reserved its verdict in Bahria Town’sproposal to pay Rs450 billion for the land it occupied in district Malir,Karachi.
A three-member implementation bench of the apex court, headed by JusticeSheikh Azmat Saeed, reserved the verdict and remarked that the decisionwould be announced on March 21.
During the course of proceedings, Ali Zaffar counsel for Bahria Townoffered to pay Rs2.25 billion per month for the next five years. The restof the amount will be paid in the next three years, he added.
He said his client was ready to pay Rs20 billion as down payment and 30 percent of the installments, whereas parks, zoo and a cinema have been offeredas guarantee.
The counsel also pleaded to the court to withdraw the cases being pursuedby the National Accountability Bureau against Bahria Town, and sought anexemption of taxes and fees for transfer of land.
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Justice Azmat Saeed responded that the court would not be able to suspendthe law for transfer of land, making it clear to the builder’s counsel thathis client would have to pay the due taxes and government fees.
The counsel for Malir Development Authority also requested the court towithdraw cases against the government officials pertaining to Bahria Town.
Justice Azmat Saeed responded that the deal was being made with Bahria Townand not with the Sindh government.He also discouraged the impression that the Bahria Town’s offer would beaccepted.
