Fazaia Housing scam: Over Rs 16 billion to be disbursed among 6,000 victims: NAB

KARACHI: The refunds of over Rs16 billion to the 6,000 affectees of Fazaia Housing Scam will be made under the court orders. According to the National Accountability Bureau (NAB), Karachi, refund will be made under the court orders, however, no date has so far been disclosed about the process of refunds of over Rs16 billion to the 6,000 affectees of Fazaia Housing Scam.

Earlier, the management of Fazaia Housing schemes (FHS) agreed to refund the claims of 6,000 allottees, amounting to over Rs16 billion when the NAB, Karachi froze FHS bank accounts and took over Rs13.5 billion.

The FHS management also agreed to pay remaining liability of Rs3 billion to NAB for 'cent percent' refund to the affectees and assets worth Rs6 billion in shape of land and machinery/assets at site will remain in NAB custody as collateral against liability of Rs3 billion. The FHS, which had a plan to build 8,400 residential units for the families of the martyrs, had started construction activities without layout plans and approvals from concerned authorities that triggered the Sindh Building Control Authority (SBCA), which stopped all construction, sale and booking activities. Later, the FHS allottees also staged a protest on November 18, 2019 outside the FHS office and the video in this regard also went viral.

The NAB Karachi after receiving a large number of claims against a Public Notice published in leading newspapers has ensured all the affectees that refund would be made in the light of court orders.

Copyright Business Recorder, 2020