Businessman sees bid to derail commercial project

PESHAWAR: A businessman from Takht Bhai town in Mardan district has alleged an attempt is being made to sabotage a commercial project in Peshawar Cantonment, which he had envisioned nearly two years ago.

Habibullah Khan, son of Munawwar Khan, addressed a press conference at the Peshawar Press Club to highlight an ongoing dispute threatening his mega commercial project, The Capstan Mall, in Peshawar Saddar.

He stated that he had legally signed an agreement last year with Dr Muhammad Umair Akram to acquire seven kanals of land for launching a large-scale commercial venture aimed at offering business opportunities. He said he had lawfully vacated the land by compensating the tenants.

However, after 22 months of groundwork and near-finalization of the project, the former landowner-who has already received 50 per cent of the agreed payment-had allegedly started making excuses to back out of the agreement. The businessman claimed that the owner suddenly issued an “irresponsible” statement to the media, declaring the cancellation of a special power of attorney, even though no power of attorney had been granted, only a formal agreement.

Habibullah Khan emphasized that the project had complied with all legal requirements under the Peshawar Cantonment Board’s bylaws. He expressed hope that The Capstan Mall would create employment, provide commercial relief, and generate significant revenue for the Cantonment Board.

He accused the former owner of colluding with various mafias to sabotage the project and urged him to return to the negotiation table, receive the remaining payment as per the agreement, and honour the original deal.

The businessman warned the public against entering into any new agreements with Dr Umair Akram for the project, asserting that he had already invested millions of rupees under a legal contract