ISLAMABAD: Rs100m paid to defunct New City project victims
By Our Reporter
ISLAMABAD, Feb 9: Capital Development Authority (CDA) has so far paid Rs100 million to the affected persons of Islamabad New City (INC) project (phase-II), it was officially learnt here on Saturday.
However, the total amount paid by the applicants of phase-II is stated to be Rs162 million.
On the other hand, the applicants of phase-I had deposited Rs300 million with the National Housing Authority (NHA), but they have not been returned even a single penny, sources told Dawn.
A total of 3,000 and 1,900 applicants had deposited money in phase-I and II, respectively.
The CDA, however, clarified that there was no possibility of allotment of plots, as no piece of land had been acquired for the project.
Some of the applicants, believing that they will be allotted plots, are not drawing their money from the bank which is a misconception, the CDA spokesman said.
The INC, an abortive mega-housing project, was launched in 1996 and the money of the applicants was deposited in a joint account of the CDA, Asia Challenge International (ICA) and M.G Hertz.
Later, it was revealed that the ACI was a fake company and the project was launched only to grab people’s money.
