A nexus of builder and broker mafia with covert support of corrupt officials is fleecing citizens and small plot investors and depriving them of their lifetime savings but the government and its anti-corruption watchdogs have turned their blind eye to this mega scam, said Pasban Democratic Party PDP Chairman Altaf Shakoor, here Thursday.
He said the builder mafia is among the most powerful mafias of Pakistan and it easily influence not only government departments including police but also make many politicians dance to its tunes. He said in Karachi a major real estate tycoon and some brokers are involved in a scam in which citizens and plot investors are being fleeced. He said the citizens and small plot investors who got booked plots in a very big private sector residential scheme in Karachi were shocked when they didn’t get possession of their plots despite the fact that they paid their dues consuming their lifetime savings. He said now this tycoon had managed an arrangement under which citizens are being returned their original amount in installments. He said even from 40 to 50 percent of this account is being deducted. He said moreover, brokers are also involved in this scam and hence both brokers and builders are exploiting citizens with both hands.
He said now the values of these plots are many times high but the citizens are getting their old amount which is a plain cheating and inflation effect is being borne alone by citizens. They can’t buy same sized plot with the same amount of money anyway in the megacity.
Altaf Shakoor said the rangers, FIA, anti-corruption department and other watchdog institutions despite neither knowing all facts of this scam are not taking any action against the real estate tycoon because of his huge influence. He said the citizens think these tycoons a state within state and more powerful than the provincial and federal governments. He asked is there any forum left where these fleeced citizens could go with a request that justice be doled out to them.
Altaf Shakoor said that overbooking of plots is a plain fraud, punishable under Pakistan laws but why real estate tycoon are not booked by this crime by FIA, NAB, police and anti-corruption departments is a million dollars question. He said the agencies and national security institutions are also mute over this big white collar crime. He said citizens are deprived of their lifetime savings but the state institutions are unmoved. He asked if Pakistan has really become a Banana Republic.
He demanded from the Sindh and federal government, IGP Sindh police, FIA, NAB, anti-corruption departments, Chief Justice of Sindh High Court and Chief Justice of Pakistan, besides national security institutions and agency to take notice of this mother of all real estate scandals in Pakistan and ensure that all the deprived, looted and fleeced citizens and small plot investors of this mega private residential scheme of Karachi are doled out justice and paid compensation as per inflation rate, besides taking action against the builder mafia for fraudulent overbooking of plots.
