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Naqvi Says One Constitution Avenue to Be Converted Into Five-Star Hotel in 'Coming Months'
The cabinet approved a JIT report that found 254 apartments were sold through 99-year sub-leases and ordered compensation for affected buyers.
- On Wednesday, Federal Interior Minister Mohsin Naqvi announced the government will convert One Constitution Avenue in Islamabad into a five-star hotel, following federal cabinet approval of a Joint Investigation Team report.
- Planning Minister Ahsan Iqbal revealed the JIT found "irregularities and rigging," stating the project executed through a manipulated bidding process and unauthorized rule relaxations that favored specific individuals and defrauded the Pakistani people.
- The inquiry identified 254 apartments sold through 99-year sub-leases, with the JIT naming Abdul Hafeez Sheikh as the mastermind who colluded with Capital Development Authority officials to bypass regulations.
- Affected buyers will receive refunds of their principal investments plus KIBOR-based interest, while a CDA member will now manage the building's affairs to ensure hotel operations begin soon, Naqvi said.
- The government intends to finalize an agreement with a major international hotel chain to operate the facility, while authorities committed to digitizing records and overhauling CDA procedures to prevent future fraud.
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Government to compensate victims of One Constitution Avenue irregularities, says Ahsan Iqbal
The government will compensate those affected by alleged irregularities in the One Constitution Avenue project, Federal Minister for Planning and Development Ahsan Iqbal said on Wednesday.
·Lahore, Pakistan
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Coverage Details
Total News Sources16
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
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