SWABI: No investor turned up on Wednesday for the much-publicised auction of about 40 shops and eight plots of one kanal each in Shahmansoor Township, Swabi, sources said.

When contacted, the relevant officers said the township administration had completed all arrangements, but none of the investors turned up.

According to the auction rules, every investor had to deposit Rs0.9 million for a shop. The monthly rent of the shop was Rs3,000 and the buyer was bound to pay five to seven per cent advance tax.

An officer said on condition of anonymity that many people had visited the office of Swabi Development Authority (SDA) at Shahmansoor and reviewed the rules and facilities after which they decided not to participate in the auction.

“A shopkeeper will have to pay a total of about Rs12,000 in monthly rent, taxes and other expenditures. The shop was on offer for a decade-long lease,” he said.

He recalled that earlier the lease was for 33 years. He said that only one investor from Shahmansoor village had turned up in the earlier auction a few months ago and got a shop.

However, the official said the investor had demanded that the shop on Swabi-Jehangira road should be given to him and the SDA allotted him a shop in the opposite side after which he filed a case in the local court.

ARRESTED: Zaida police arrested an alleged robber on Wednesday and recovered the money he had snatched from a citizen at gunpoint.

SHO Zaida police Ajab Durrani said the investigation team arrested the accused Abuzar Khan who had confessed that he had snatched Rs25,000 at gunpoint from Mohammad Iqbal of Chota Lahor city. He said the money was recovered from him.

Published in Dawn, October 27th, 2022