+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: SC allows DHA to draw Rs 52m from frozen accounts (/showthread.php?tid=15216)
SC allows DHA to draw Rs 52m from frozen accounts - Salman - 08-02-2013 03:46 PM
ISLAMABAD: The Supreme Court (SC) on Thursday allowed the Defence Housing Authority (DHA) to draw Rs 52 million from its frozen bank accounts in order to pay salary and pensions to its workers.
A three member bench of the court, headed by Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry, said the court had relaxed the conditions for DHA so that its management could pay salaries and pensions to its staff.
The bench also directed the Capital Development Authority (CDA) to submit record of 1,400 acres land which the civic body had given to DHA without any agreement for the establishment of an industrial zone.
It asked the Federal Investigation Agency (FIA) to submit the final report on NESPAK’s evaluation of EOBI property that was purchased from various housing societies throughout the country for the purpose of investment.
During the hearing, FIA Additional Director General (legal) Azam Khan submitted NESPAK’s preliminary evaluation report on property that EOBI had purchased for investment purpose.
The report said that the value of a property near Islamabad Expressway was Rs 14 billion in 2009 which escalated to Rs 17 billion in July 2013. It added the EOBI purchased Crown Plaza Islamabad against a payment of Rs 1 billion whereas its market price was Rs 626 million.
The court asked the FIA officer to submit the final report at the next date of hearing.
The bench was told that the columnist-cum-lawyer, Advocate Babar Sattar, had been legal expert for EOBI.
The court said that Advocate Babar Sattar had written an article in an English newspaper in which he discussed the merit of the case at considerable length and a programme based on the article was also aired on a private TV channel.
The SC directed the chief executive officer of the channel to produce a CD/DVD of the programme along with complete transcript before the next hearing.
The chief justice said that instead of writing the article in the newspaper, Babar Sattar should have come to the court, adding that he was not counsel for the court.
Babar Sattar had written the article on July 30 in which he criticised the SC for taking a sou motu notice of the EOBI issue.
The CJP also said that there was no any sensation or anxiety in the court due to EOBI case.
Tariq Mehmood, representing Eden Housing Society, informed the court that he had deposited Rs 976 million and the balance amount of Rs 900 million would be submitted by 18th of this month.
Earlier, Advocate Muhammad Bilal along with the EOBI chairman argued the case. The court pointed out to Bilal that in 2009, the Public Accounts Committee of the National Assembly had expressed reservation on the investment of funds by EOBI.
The court was informed that in the minutes of 86th EOBI Board of Trustee meeting, it was mentioned that subject to the verification, the government had varied the approval of 18 properties. The case was later adjourned until August 21, 2013.