Heres another super cracker scandal right in the heart of the Capital Islamabad and that too on Constitution Avenue. The Grand Hyatt land on Constitution Avenue in Islamabad has been sold to the Bismillah Group for Rs. 1.9 Billion. But wait. Heres the brilliant move. The payment to CDA is to be made in very easy installments over 13 years. And Heres even more brilliance. Not a single Rs has been paid to CDA as yet but the Authority has very generously transferred legal ownership to the Bismillah Group. And the final piece in this brilliant broad daylight highway robbery is this. This outstanding very well connected group in cahoots with all the powers that be then uses this land as collateral for a Rs. 5 Billion loan from the Bank of Punjab to develop the Project. Who says money doesnt grow on trees and cannot be created out of thin air. Apparently the Public Accounts Committee was apprised of this huge white collar daylight robbery by the Auditor Generals office. It is said that even the likes of Syed Khurshid Shah were heard to say .... this is too much even I havent seen such blatant and brazen corruption and misuse of power and authority. Result no action. No article in any paper. No talk show. No Khara Such. Bismillah group must have really long arms and bucket fulls of envelopes. Apparently all this is available in the records of the Auditor General of Pakistans office.
Posted on: Mon, 29 Dec 2014 10:55:21 +0000
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