National Accountability Bureau (NAB) has launched a full-scale investigation against the Defense Housing Authority (DHA), Bahria Town, and Capital Development Authority (CDA) over allegations that these entities are involved in scams worth billions of rupees related to the DHA Valley and Phase-II extensions.
Reportedly, DHA has allegedly scammed as many as 110,000 civilians and 41,000 military personnel who invested in their real estate schemes, causing them major losses in their investments.
An executive board meeting, led by NAB chairman Justice (Retired) Javed Iqbal, made the decision to start probing these entities, in addition to several other political personalities including ex-prime Minister Nawaz Sharif’s son-in-law.
The bureau’s official press release on the matter states:
The administrations of the three organisations were accused of being involved in non-development of DHA Valley and DHA Phase-II extension causing irreparable losses to hundreds of thousands of people who had invested their hard earned money in these projects.
The scam came to the authorities attention after retired Lt Col Mohammad Tariq Kamal, a Rawalpindi resident, filed a complaint and alleged that the DHA Valley’s development was allotted on top of the area reserved for a lake that links to Dadhocha dam.
About DHA Valley
DHA Valley is a joint venture between DHA, Bahria Town, and another real estate company Habib Rafique, along with other different housing schemes such as DHA Phase-II extension, DHA Villas, and DHA Express Way as well.
According to NAB, people who invested their money into DHA Valley before its construction were not made aware of DHA’s transfer of contract to Bahria Town. As per reports, all of the Rs. 62 billion collected from the public was transferred to Bahria Town, while the latter failed to complete the Valley’s development.
As reported by some media outlets, the scam involves land stretching 165 kanals, that should rightfully belong to the investors consisting of 110,000 civilians, and 41,000 military families – belonging to both serving and retired personnel as well as the families of martyrs.