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Project director held in DHA City scam

LAHORE: The National Accountability Bureau has arrested former project director in the Rs16 billion DHA City scam.

A NAB official told Dawn on Friday that accused, retired Brig Khalid Nazir Butt, had been arrested for signing a “lopsided joint venture” agreement with Globaco, which was discriminatory in nature and was entirely disadvantageous to the DHA causing huge loss to the authority.

The NAB said the Globaco launched the project with the implied consent of the accused without acquisition of 10,000 kanals of land and getting the master plan approved from the executive board of DHA, which was in complete violation of the approved minutes of the board meeting.

As a result, it said the general public was deprived of its entitlement and failed to get possession of purchased plots in the said scheme.

“Brig Butt committed the offence of misuse of authority, criminal breach of trust, cheating public at large and misappropriation of funds,” it said.

The NAB will produce him in the accountability court on Saturday to get his physical remand.

Prime accused in DHA City Lahore scam Hammad Arshad, owner of Globaco (Pvt) Ltd, has already been in the NAB custody on physical remand.

Arshad’s company had allegedly signed an agreement with DHA EME in Nov 2009 agreeing to develop DHA City Lahore on land measuring 25,000 kanals in area near Thokhar Niaz Baig. NAB said the Globaco was assigned the responsibility to acquire the land but it failed to honor the agreement.

In the same case, the Elysium Holdings Pakistan Limited, owned by Kamran Kayani, the younger brother of former army chief Gen Ashfaq Parvez Kayani, is also accused of helping Globaco in acquiring the DHA City project. The NAB served summons on Kamran Kyani but he has not yet appeared before it to record his statement.

Published in Dawn, February 13th, 2016

http://nation.com.pk/lahore/13-Feb-2016/former-director-held-in-dha-scam