Development fund of I-15 sector: PAC constitutes sub-committee to probe embezzlement of Rs 7 billion

Chairman Public Accounts Committee Syed Khursheed Shah Wednesday constituted a sub-committee to investigate embezzlement in Rs 7 billion development fund of I-15 sector of the federal capital. A meeting of the committee was held here in the Parliament House wherein the members were briefed on progress of the development in sectors, I-11, I-12, I-14 and I-15.
The sub-committee comprising Senator Sherry Rehman, MNA Shafqat Mahmood and MNA Mahmood Khan Achakzai will probe the matter and submit a detailed report to the main committee within 20 days. Chairman Capital Development Authority (CDA) Usman Akhtar Bajwa failed to satisfy the committee members about collection of development funds for residential sectors and their subsequent utilization.
During the briefing, the audit officials informed the committee members that the CDA collected Rs 7 billion for development of I-15 sector, but later these funds were embezzled and not utilized properly.
The audit officials said that it should be investigated how and where these funds were utilized. The CDA chairman informed the committee members that Rs 7 billion were collected from a total of 7,000 individuals for flats in the I-15 sector. He said that 3,000 individuals later withdrew their money while another 4,000 were given 25X50 square feet residential plots each as compensation. The audit officials, however, informed the committee members those individuals offered residential plots as compensation have got nothing so far. The chairman CDA said that the authority requires at least Rs 10 billion per annum to meet its administrative expenditures, but its annual budget is much less than it.
He said the population of Islamabad is increasing at 4 percent annual growth rate while water supply to the residential area is less than 50 percent of the demand.
Senator Sherry Rehman asked the CDA officials to allow commercial activities to middle income residents and envoys living in Islamabad in the residential sectors to open art galleries, beauty parlors and embassies.
The chairman CDA, however, failed to satisfy the committee members about all these issues including embezzlement in the development funds for the residential sectors. Chairman committee Syed Khursheed Shah constituted the sub-committee to probe these issues by terming them as issues of public importance.