ISLAMABAD: The Capital Development Authority has referred BNP Group, a private construction firm behind One Constitution Avenue, to the Supreme Court after the latter approached CDA for ‘settlement of pending litigation’ and offered to transfer a piece of commercial land to settle the issue, Dawn has reported.
After nearly five years, BNP project One Constitutional Avenue was de-sealed as a result of a decision by a three-judge SC bench led by the-then chief justice Saqib Nisar.
According to Dawn, the developer made the initial payment of Rs. 1.7 billion as the first installment of the total Rs. 17.5 billion settlement in the CDA account in accordance with the 2019 judgment.
In a recent bid, the developer launched a proposal in lieu of making the outstanding payments, offering CDA a commercial land worth Rs. 9.6 billion to settle the matter.
The developer wrote to the CDA that due to the current economic scenario, “it has become impossible for us to complete the project and also make the annual installment of Rs2.92 billion.”
The developer also stated that “the CDA will become the exclusive owner of the abovementioned commercial property in place of the outstanding “discounted” lease amount payable and will be at liberty to utilize, rent, or sell the commercial space.”
The sources claimed that after receiving the letter, the member estate made the decision to seek advice from the attorney general.
The attorney general’s office responded by claiming that the top court decision applied to both the CDA and the developer.
Following the said opinion, member estate Naveed Ilahi, in a letter, requested that the developer approach the SC “for disposal of the subject case in accordance with the proposals submitted to CDA for settlement of pending litigation.”
An official of the CDA stated that the developer’s proposal appeared to be a legal and reasonable way to resolve all outstanding litigations.
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