The allotment of land worth Rs 10 billion to a company with a paid-up capital of only Rs 20 was canceled in Karachi, after which 10 to 25 acres of the adjacent housing scheme was given away.
According to the document of the Sindh Board of Revenue, the allotment of valuable 54 acres of land near the airport has been cancelled. According to DC Malir Irfan Salam, after the cancellation of the allotment of land utilization, the process of breaking the boundary wall has been completed.
DC Malir said that 10 acres of land occupied by the adjacent Gulshan Rumi has also been confiscated.
Area Mukhtarkar said that the office of adjoining private housing scheme occupying 10 to 15 acres has been sealed.
According to the document, the valuable land was allotted in 2006 by former Chief Minister Arbab Rahim to the important person for the purpose of affordable housing scheme, however, 6 years ago the land was commercialized for affordable housing land.
As per records, the company has two shares of Rs 10 each and its paid up capital is only Rs 20.
The District Collector has also demolished the boundary of the adjacent private housing scheme, alleging that 10 to 25 acres of land has been grabbed by using fake accounts.