Punjab ACE begins probe into Rawalpindi Ring Road scam

LAHORE: Punjab’s Anti-Corruption Establishment announced on Monday that it has started an investigation in the Rawalpindi Ring Road project.

A spokesperson of the department said that the Director-General Anti-Corruption Mohammad Gohar has named the investigation team for the project that includes legal, technical, and economic experts.

“The team has launched a probe into the scandal and after a thorough investigation, all the facts of the project will be made public,” said the spokesperson. The Rawalpindi Ring Road has taken the political circles in Pakistan by storm. The allegations have been so damning that Zulfi Bukhari, whose name was referenced in the report, has also resigned as SAPM.

A recent report showed an initial inquiry into the scam found that over Rs130 billion have been made in property deals as part of the Rawalpindi Ring Road project since its conception in 2017.

According to the new official findings, 18 politically connected individuals and 34 influential builders and property tycoons have acquired around 64,000 kanals of land in different deals within the limits of the Rawalpindi/Attock loop, Paswal Zigzag, GT Road and Islamabad Margalla Avenue, The News reported.

The value of this land was expected to multiply once work on the Rawalpindi Ring Road project started. An examination of official records, files and initial findings of investigators linked with the project found that these 52 individuals, either directly or through frontmen, collectively acquired over 63,828 kanals of land by paying an estimated Rs31 billion to the real owners. Some portions of the lands were allegedly grabbed in the last four years.

Societies and property tycoons sold around 0.32 million files/pledges of plots by generating an estimated Rs131 billion from clients, officials revealed. According to the publication's news report, dealers have also yet to pay tax against 67% of the land deals, which remains at Rs1.7 billion. Around 60% of societies and builders did not meet the basic registration criteria.

Hundreds of thousands of land registrations, however, were being sold to bulk purchasing investors and potential buyers on 10% to 30% down payments in the market, revealed off-the-record discussion/interviews with around a dozen senior officials of the RDA, CDA and Attock/Rawalpindi/ICT administration.