The Supreme Court of Pakistan accepted the Bahria Town Karachi offer of Rs 460 billion.
In Bahria Town Karachi case, SC accepted Rs 460 billion offer that will be paid in 7 years against corruption cases. Supreme Court also stopped NAB or National Accountability Bureau from filing references against the housing project.
Bahria Town Karachi required to pay the whole money over the tenure of 7 years. By August 2019, they will have to make a down payment of Rs25 billion. Later, the monthly installment of Rs 2.25 will be required from them for next 3 years.
On the other side, after 3 years, Bahria Town Karachi will have to offer a 4% markup in case of late installments.
Apex court’s 3 Judge bench had taken up implementation of its May 4, 2018 judgement in which grant of land to Malir Development Authority or MDA by the Sindh government, its exchange with the land of Bahria Town and anything done under the provisions of the Colonisation of Government Land Act 1912 by the Sindh government was declared false.