One Constitution Avenue saga

While talking to the Saudi ambassador-designate to Pakistan, Commodore Nawaf Saeed Ahmed Al-Malkiy, Federal Minister for Finance, Mr. Ishaq Dar urged Saudi investors to avail investment opportunities in Pakistan and appreciated continued support of the Saudi government for projects aimed at economic development in Pakistan.
But it is mentioned with serious concern that, present government failed to protect the buyer’s rights who invested their lifetime savings in one of the mega projects named The One Constitution Avenue in Islamabad. In this project, located at the heart of the Federal Capital, buyers including hard working professionals, widowers, retirees and taxpaying Pakistani citizens or overseas Pakistanis invested approx. 5.4 billion rupees but their investment has gone into vein when this multi-story building was considered illegal.
Was it wrong for these people to invest in this project? Who is going to compensate these purchasers for their financial losses if their rightful properties are taken away from them? Will Overseas Pakistanis ever trust to invest a single penny of their hard earned money in any future projects in Pakistan? These and many such questions remain unanswered almost ten months after CDA cancelled the lease of One Constitution Avenue project. To continue enjoy presence of Saudi investors and companies in Pakistan with a view to further bolster the current level of bilateral economic cooperation, the present government should resolve the miseries of these buyers amicably.
N H QURESHI
Islamabad

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