• Billions embezzled from Military Accounts Housing Society

      May 25, 2012
      Print : Top Story

      LAHORE: The District Officer Cooperatives on Thursday disclosed embezzlement of billions of rupees in transactions involving land owned by the Military Accounts Cooperative Housing Society (Ltd), The News has learnt.

      Controller-General Accounts sent the Deputy District officer’s report and the case to NAB, FIA, and DG Anti-Corruption Punjab. According to the report, the society’s president Chaudhry Aslam and its management sold 8 kanals of land in the society that had been approved for a graveyard. Rs12million were taken out for the purpose of establishing a graveyard and those in charge said the funds taken out would be used for the purchase of land. However, there is no evidence of the registry of the land.

      Initially, 1,356 kanals of land were purchased while 856 kanals were relegated for the society’s development, and 482 kanals were declared disputed land and sold to the society’s director land, Zaheerud Din Babar, at Rs25,000 per kanal, much below the market rate. Babar has not paid up the remaining amount for the last several years.

      A park spread over 16 kanals was sold in the same way while 72 plots were sold without auction. General Accounts controller Junaid Qureshi, when contacted, said he will hold an inquiry on the report of the district cooperative officer.

      Billions embezzled from Military Accounts Housing Society was posted in Top Story of TheNews International - https://www.thenews.com.pk on May 25, 2012 and was last updated on May 25, 2012. This news story is related to Archive - breaking news, latest news, pakistan ne. Permanent link to the news story "Billions embezzled from Military Accounts Housing Society" is https://www.thenews.com.pk/archive/print/622574-billions-embezzled-from-military-accounts-housing-society.