SC reserves verdict after Bahria Town ups offer for Karachi land to Rs450bn
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The Supreme Court on Wednesday reserved its verdict in the case against Bahria Town (Pvt) Ltd after the builder upped its offer to Rs450 billion for the lands it occupies in the Malir district of Karachi. The verdict is to be announced on March 21.
At the onset of the case today, the counsel for Bahria Town offered to pay Rs2.25bn per month for the next five years. The rest of the amount will be paid in the next three years, he added.
The real estate tycoon also agreed to pay Rs20bn as down payment and 30 per cent of the installments, whereas parks, zoo and a cinema have been offered as guarantee.
Also read: Malik Riaz on bribes, blackmail and launching media empire
The counsel also pleaded to the court to withdraw the cases being pursued by the National Accountability Bureau against Bahria Town, and sought an exemption of taxes and fees for transfer of land.
At this, Justice Azmat Saeed remarked that the court will not be able to suspend the law for transfer of land, making it clear to the builder's counsel that his client will have to pay the due taxes and government fees.
The counsel for Malir Development Authority also requested the court to withdraw cases against government officials pertaining to Bahria Town. Justice Saeed responded by saying that the deal was being made with Bahria Town and not with the Sindh government.
The judge also discouraged the impression that the builder's "offer would [necessarily] be accepted".
The court had taken up implementation of its May 4, 2018 judgement in the case which held that the land grant to the Malir Development Authority (MDA) by the Sindh government, its exchange with the land of the private land developers — Bahria Town — and anything done under the provisions of the Colonisation of Government Land Act 1912 by the provincial government was illegal.
The land was granted to the MDA for launching an incremental housing scheme, but instead of doing so, the authority swapped it with Bahria Town, which launched a scheme of its own, the judgement had held.
Currently, Bahria Town is in possession of 16,896 acres of land in Malir district, whereas it has surrendered 7,675 acres to the MDA.
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On DawnNews
Mar 13, 2019 05:05pm
Let me guess an absolute clean chit for Bahria Town and Malik Riaz. The sources behind Malik Riaz are way above the law. Hence Bahria Town and Malik Riaz have nothing to worry about. Enjoy.
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Mar 13, 2019 05:14pm
Solution of BT issue is understandable given the third party interest and the work done by BT.However the court should issue directions to the Government to fomulate regulations for Real Estate development on the lines of the rules existing in Emirate of Dubai.They had revisited the regulation after their experience of 2008 melt down.
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Mar 13, 2019 05:21pm
Recovered money should go to Karachi and Sindh not to Islamabad or any other so called project, it belongs to Sindh only.
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Mar 13, 2019 05:31pm
Out of court settlement. Why?
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Mar 13, 2019 05:55pm
SC reserves verdict after Bahria Town ups offer for Karachi land to Rs450bn... legalized and take the money that is the norm... wonder what kind of society we permitting
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Mar 13, 2019 06:34pm
This is for MDA land what about the individual owners land BT is extended to 49,000 acres who will make BT pay to those people whose land has been grabbed by BT.
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Mar 13, 2019 06:52pm
Malik Riaz must be jailed for over 10 years without chance of bail. Merely a financial settlement reeks of different application of laws for the wealthy.
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Mar 13, 2019 07:11pm
This sunk money Recovery should go to Dam Fund!
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Mar 13, 2019 07:15pm
It is the common public who whose pockets will becomemthe target to pay the 450 Billion. Malik Riaz is very good at collecting money from a million people and then spending some on a 1000 of them. In my view no deal shoulld be made. Land should be confiscated and Bahria Town be made to compensate the victims.
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Mar 13, 2019 07:19pm
Still peanuts. Correct figure is in the 1000 billion ruppee rangeplus penalties, so others are discouraged to do such mega corruption scams.
No one in the world offers the correct amount aspart of a plea deal.
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Mar 13, 2019 07:41pm
450 Billion is pocket change for Malik Riaz and Zardari. At least make it 1000 Billion.
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Mar 13, 2019 07:42pm
It will be most appropriate for the courts to penalise them with money as well as to perform community services for the rest of their lives,so that others do not follow corrupt practices with the impression that if caught they will only be penalised financially.
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Mar 13, 2019 08:12pm
@Asad, Your Sindh govt is hands in hand with Malik Riaz, why should the money go to sindh gov then ?
Your govt clearly told the court that it does not want to pursue the case against Malik Riaz.
The money should go to the center or dam fund.
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Mar 13, 2019 08:56pm
To every rise, there is a fall and for every Malik Riaz, there is a wall.
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Mar 13, 2019 09:00pm
@Nadeem Yousuf, The money, if the deal accepted, from Sindh therefore, should be spent in development of Sindh.
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Mar 13, 2019 09:07pm
Why to defer the payment. All culprists should be behind bar.
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Mar 13, 2019 09:53pm
@Asad, correction, it belongs to Karachi and should be spent on developing Karachi city`s water n sewerage, roads, mass transit, solid waste collection etc.
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Mar 13, 2019 10:12pm
The law should be upheld. Settlement is against the law. An example should be set. The whole land should be restored to its original form and Bahria Town required to pay fine for their wrong doings. Two wrongs don't make a right.
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Mar 13, 2019 10:16pm
Bahria Town upped its offer to Rs450 billion for the lands because it will lose nothing as it would equally up the prices of plots and built properties accordingly.
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Mar 13, 2019 10:34pm
@Jamshed, Nothing not even a penny should go to the Sind Govt as they were and their Political DON are responsible for this one of the biggest scam in Pakistan. Not only the entire amount be recovered in one go or at the most two installments . The looted money should only go to develop Karachi and some part should go for dam,
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Mar 13, 2019 10:58pm
@Asad, It should go to build a Dam so Sindhi can get water to drink.
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Mar 13, 2019 11:01pm
@Sab Se Pehle Pakistan, After all he has offered Rs 450 bn.
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Mar 13, 2019 11:41pm
The BT offer should be accepted to safeguard public investment. The amount to be given by BT be given to sindh province
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Mar 14, 2019 12:23am
We understand case is being resolved in the interest of third party, however BT has disowned 7000 acres of land where they had taken bookings of plots and villas. Unless court explicitly makes it binding on BT to deliver those properties considering 5 years investments and appreciation of similar properties all these clients will be basically ruined. SC should setup a monitoring judge for the implementation of this decision and make sure clients are not robed by various machinations which BT and their dealers can unleash on already troubled and demoralized clients.
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Mar 14, 2019 01:06am
@HamidSyed, Agreed. The money should be spent only on Karachi.
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Mar 14, 2019 01:43am
@Sab Se Pehle Pakistan, put Malik Riaz behind bars...but their are honest people with stuck investments in Bahria Town. There is unfortunately no Bahria Town with out this guy. And we all know DHA did business while BTK was in courts. MDA gets recovery; rules are strengthened for future real estate. People get their lands back. Everybody wins.
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Mar 14, 2019 01:44am
@Asad, Dam fund. I believe there is censuses on that. Because there is a Bahria Town in Rwp,Lhr as well...each with a fully equipped Bilawal house.
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Mar 14, 2019 03:19am
@Sab Se Pehle Pakistan, I agree with you.
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Mar 14, 2019 04:39am
Govt. is making Rs.450 billion for a land which belong to city of Karachi, how much Karachi will received from Rs.450 billion?
Karachi has always been paying the lion share for the revenue generated each year, but sadly only receive peanuts in return
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Mar 14, 2019 05:33am
PLs accept this offer and spare people of Karachi. BT is best residential area in whole Pakistan. And use this huge amount for dams funding.
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Mar 14, 2019 05:41am
i have a feeling it will be accepted. but i hope not !
if it is accepted then it should be 500billion and 50% must be paid within 1 year. the rest in 2 years. don't delay it past PTI govt term. else you'll be chasing it forever ! also no clean chit to malik riaz. he must be barred from development in pakistan and the current land he holds must be surrendered to the govt.
he is worth 3000 bio. he is getting away with very large amount !
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Mar 14, 2019 07:18am
@Asad, So what was Sindh doing before. It was looting public money and helping others to loot Sindh resources as well. What to cry about now.
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Mar 14, 2019 07:30am
@Asad, what about 300 billion he looted from his frauds in Islamabad or other places - first of all - the money recovered should be 900 Billion and equally (proportionally) distributed among all affected
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Mar 14, 2019 07:31am
Ridiculous! It's only $3.2 billion - a fraction of what the land is worth. Don't settle for anything less than $25 billion. Must we always be slaves to these venal , greasy land grabbers?
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Mar 14, 2019 07:47am
@Asad, And who is ruling Sindh? so we all know where this money will end up.
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Mar 14, 2019 08:01am
@Asad, you mean it should be sent to pocket of theives???
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Mar 14, 2019 10:49am
Nothing but peanuts. It should have been at least equal to 100 billion Dollars. The other thing is where will this money go? MDA or Sindh Govt.? Meaning looted money going back legally to the looters!! It would be a shame.
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Mar 14, 2019 10:51am
@Asad, So the looted money goes back to the looters, and that legally as well. What a pity?
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Mar 14, 2019 11:30am
Bad precedent. But if it really needs to be done then SC should establish and clarify what will be done with the monies received. Primarily, how much of it will go those who were directly affected and displaced by the mafia.
But the deal and m.o. being agreed to clearly indicates that MR will go about launching several more and bigger schemes raking in much more from the people, and diverting a fraction of it in part payments (in lieu of the penalty) to the state, while being scot-free for eternity. Doesn't look like that the deal being agreed to would hurt his personal bank balance much.
I hope that the SC verdict also establishes the limitations for future for MR, and real estate industry on the whole.
Oh state...show me a ray of hope please
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Mar 16, 2019 10:38am
They should also enforce developers to adopt names of the areas they occupy. Some developers demolished a 300-400 year old village named 'Kotli Mughlan' in Gujranwala and named it freaking "Master City". I'd rather Bahria name the Karachi one "Kirthar Park" since it has clearly encroached into Kirthar National Park (check google maps).
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