ISLAMABAD:The Joint Investigation Team (JIT) report has uncovered serious irregularities, manipulation, and fraud in the One Constitution Avenue project in Islamabad.
This was stated by Planning Minister Ahsan Iqbal Chaudhry while addressing a news conference, alongside Minister for Information and Broadcasting Attaullah Tarar Advocate and Minister of State for Interior Talal Chaudhry, in Islamabad on Wednesday.
Ahsan Iqbal further revealed that the JIT, comprising representatives of NAB, FIA, FBR, SECP, IB, and ISI, conducted a detailed investigation into the project and submitted its report to the Federal Cabinet, which approved its recommendations.
The Planning Minister said the bidding and auction processes were manipulated, rules were relaxed to favour a particular party, and the company awarded the lease was not eligible for it.
He said the Capital Development Authority (CDA) was also found involved in the irregularities, while the requirement for a bank guarantee was removed to benefit the developer.
Ahsan Iqbal said apartments were sold illegally, although the project had originally been approved as a five-star hotel.
He said the JIT also identified Abdul Hafeez Sheikh as the mastermind of the scheme, along with several CDA officials, including former CDA Chairman Kamran Lashari, Dr. Faisal Awan, Uzair Ali Chaudhry, Brigadier, Retired, Nasrullah, and the late Rai Nawaz Kharal.
The Planning Minister said the irregularities caused losses to the national exchequer, while several Pakistani citizens were also defrauded of their hard-earned savings.
He said the JIT had recommended blacklisting Abdul Hafeez Sheikh and his company from future public-sector projects and initiating legal action against those responsible. The report also recommended reviewing the project and restoring it to its original purpose, followed by a fresh and transparent auction process.
Ahsan Iqbal said the JIT had further proposed renaming the project, obtaining all necessary security clearances, ensuring fire safety protocols, and establishing a comprehensive framework to prevent similar irregularities in future projects.
He said the government had decided to compensate the affected investors by refunding their principal amounts along with interest calculated in accordance with the KIBOR rate.
The Planning Minister said the JIT had also recommended reviewing the CDA Ordinance and establishing an independent Master Plan Commission to strengthen oversight.
He said the report proposed digitizing all official records and introducing a two-year rotation policy for officers serving in the State Planning, Enforcement, and Building Control Departments to prevent the development of vested interests.
The JIT also recommended engaging third-party experts for pre-audits, auctions, and contract-related matters.
Ahsan Iqbal said NAB has been directed to conduct comprehensive investigations into all individuals identified in the JIT report and take action against those found responsible under the relevant law, including anyone who provided them with backing or facilitation.