ISLAMABAD – Bahria Town Chairman Malik Riaz gets the worst blow of his life.
In wake of Supreme Court’s decision to declare Bahria Town Karachi’sproject illegal, banks have stopped accepting utility bills andinstallments of plots, bungalows, and residential units in the sprawlinghousing project from the allottees.
These developments are described as the biggest setbacks to the real estatedeveloper since its establishment.
Banks have stopped accepting payments against Bahria Town’s accounts.——————————
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“Banks have not only stopped accepting installments but are also refusingto collect utility bills. Bahria Town has authorized two banks; oneconventional and other Islamic, to collect bills,” an allottee told thisscribe.
“I attempted to deposit my utility bills for electricity and maintenancecharges in the authorized banks. But the banks refused to accept thepayment stating its higher management has issued instructions not to acceptpayments,” he added.
