Prime Minister Shehbaz Sharif has constituted a three-member inquiry committee to investigate the alleged irregularities in the leasing of valuable Port Qasim Authority (PQA) land, following explosive revelations by Senator Faisal Vawda that the land was leased at throwaway prices during the current government's tenure.
According to a notification issued by the Prime Minister's Office, the land was allocated for a
small and medium industrial park.
It added that the alleged financial irregularities in the leasing process will be probed by the panel.
The committee will be led by the chairman of the prime minister's inspection commission, who has been appointed as the convener, while IB Director Sirajuddin Amjad and FIA Director Syed Shahid Hussain will serve as its members.
The committee has also been assigned a special task to examine the legal strategy of PQA in seeking the cancellation of the lease, including efforts to overturn the stay order issued against its revocation.
It will investigate the factors considered by the PQA Board in its decision to reach an out-of-court settlement with the claimant.
Furthermore, the inquiry panel will review all legal opinions that supported the out-of-court settlement.
As per the ToRs, the committee will assess whether PQA reassessed the land's value before proceeding with the settlement and whether prevailing market prices were taken into account in the final decision.
The committee will also determine why the out-of-court settlement offer was not immediately withdrawn when the claimant refused to accept it. In addition, it will identify governance issues that contributed to delays in the process.
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