Rs3 billion alleged scam unearthed in Park Road Housing Scheme

ISLAMABAD: An alleged financial scandal of Rs3 billion has been unearthed in the Park Road Housing Scheme.

Sources said that the Federal Investigation Agency (FIA) has started investigation into the alleged scandle after getting all records of the Park Road Scheme from the Ministry of Housing and Works.

Sources said that the 8000-kanal housing project includes plots for judges, members of the Supreme Court Bar Association, and other high-profile individuals. Several parties have been fraudulently charged with alleged collusion of the project director.

The Federal Government Employees Housing Authority had launched the project.

According to sources, the initial phase of the investigation has uncovered a fake guarantee record of Rs710 million, and an additional transaction of Rs350 million has also come to light.

Documents show that the contractor submitted a fake bank guarantee to the Federal Government Employees Housing Authority.

After completing its investigation, the Ministry of Housing and Works has sent its report to the FIA, which has also summoned the owner of the private company that won the contract.

Sources further revealed that the contracting company had secured the release of billions of rupees by providing a fake bank guarantee.

Meanwhile, the Ministry of Housing and Works secretary has confirmed the significant alleged scandal in the Park Road Housing Scheme.

The Ministry of Housing and Works secretary told HUM News English that the matter has been thoroughly investigated and referred to the FIA, which has recommended action against the project director and other involved individuals.