The Supreme Court of Pakistan has turned down another offer from Bahria Town. The management of the housing society had offered Rs.358 billion to legalize its current schemes.
Justice Sheikh Azmat Saeed, who was heading an implementation case, made these remarks on Tuesday.
Supreme Court, following its judgment on May 4, 2018, against the mega housing schemes, had formed a three-member implementation bench.
Justice Azmat said the amount Bahria Town was offering against the legalization of its Karachi, Rawalpindi, and Murree properties, was unsatisfactory.
“In 2014, Supreme Court had directed the real estate mogul to pay Rs. 225 billion to legalize 7,000 acres of land. If one marks that up by 40 percent [to account for inflation, other factors], the number comes up to Rs 315 billion,” Justice Saeed noted.
To this, the defense counsel, Ali Zafar, said his client was ready to pay the amount against all the disputed land. But Justice Saeed was unsatisfied with the offer.
He insisted that the offer of Rs. 315 billion was just for 7,068 acres of land, not for all 16,896 acres of land.
“We’re not haggling over tomatoes here,” Justice Saeed fumed.
To this, the lawyer said his client was in a fix and was trying to find a way out of the matter. The defendant’s lawyer then made a final offer of Rs. 358 billion.
The bench then decided to hear the federal and Sindh governments as well as NAB on the matter before ruling on it in the next hearing.
During the previous hearing, the apex court had rejected Bahria Town’s offer of Rs. 250 billion for the settlement of the case.