KARACHI: During a meeting of the Senate Standing Committee on Maritime Affairs held on Wednesday (Feb 19), a point regarding allotment of PQA land measuring 500 acres came under discussion.
After the meeting, the issue attracted wide coverage in the electronic media and various newspapers. This clarification regarding allotment of such land is being issued for the purpose of transparency, and to bring on record correct facts, the PQA said in a press statement.
As a matter of record, 500 acres land was allotted to a successful bidder in 2010 through competitive bidding process started in 2005. The allotted land is in ‘low lying area’ and its development is the responsibility of the allottee; but its possession was not handed over to the party. Due to default in scheduled payment of dues by the allottee, the PQA issued a Cancellation Notice in 2012, against which the allottee filed suit before High Court of Sindh, Karachi and obtained stay order.
The matter remained pending before the court without any outcome till 2024; therefore, in order to resolve decade-old dispute and to ensure optimum utilization of land (in low lying) for economic activity; the PQA Board approved out-of-court settlement through consent decree. In the meantime, NAB Karachi required the record pertaining to this land, which was accordingly provided. Due to requirement of record by the NAB, no further action for consent decree and settlement was considered further by the PQA.
The PQA is one of the prestigious and profitable organizations of Pakistan, which is due to its commitment to compliance with legal framework. The PQA hereby denies any wrongdoing in the process and expresses its firm commitment towards transparency and fairness.
Copyright Business Recorder, 2025