Sunday , October 13 2019
Breaking News
Home / Business / NAB recovers Rs19.5m from Sun City housing developer
NAB recovers Rs19.5m from Sun City housing developer

NAB recovers Rs19.5m from Sun City housing developer

ISLAMABAD: The National Accountability Bureau (NAB) has recovered Rs19.5 million from the management of a Rawalpindi-based housing developer for allegedly cheating their customers.

According to sources, Sun City Pakistan CEO Syed Ali Murtaza had submitted a Rs30 million Voluntary Return application under Section 25 (a) of the National Accountability Ordinance, 1999 to the NAB which was accepted and the accused has paid Rs19.5 million to the NAB.

The Sun City housing scheme developer did not carry out development work at the site of scheme despite getting money from the customers. The company had started a housing society on an area of 1000 kanals under the name of Green Terraces in Mouza Manga, Tehsil Murree and got NOC from TMA Murree in 2014 for getting NOC.

Ministry of Environment, on the direction of Supreme Court, stopped the developer from carrying out work after 2005 earthquake and ordered him to get clearance from Environmental Protection Agency (EPA), which was also got in 2008. However, the company did not development work during the period from 2005 to 2008. On the complaints of society members, the NAB auctioned 354 kanals worth Rs500 million.