PM Housing Programme Fraud: Four construction companies blacklisted
The ministry has also referred the matter to NAB in order to recover the Rs840 million-loss as a result of the fraud.
ISLAMABAD:
The Ministry for Housing and Works has blacklisted four construction companies and suspended four officials accused of fraud in seven projects under the Prime Minister’s Housing Programme. The ministry has also referred the matter to the National Accountability Bureau in order to recover the Rs840 million-loss as a result of the fraud. According to ministry officials, the initial overall contract cost was Rs1,949.99 million, whereas the completion cost of the seven projects was assessed as Rs2,793.199 million – 43% above the original cost of the project. The companies that were blacklisted are Abdul Majeed & Company, responsible for three projects in Islamabad, Iftikhar & Company responsible for two projects in Lahore, Techno International for one project in Islamabad and Toor Trading & Company for one project in Lahore.
Published in The Express Tribune, April 6th, 2012.
The Ministry for Housing and Works has blacklisted four construction companies and suspended four officials accused of fraud in seven projects under the Prime Minister’s Housing Programme. The ministry has also referred the matter to the National Accountability Bureau in order to recover the Rs840 million-loss as a result of the fraud. According to ministry officials, the initial overall contract cost was Rs1,949.99 million, whereas the completion cost of the seven projects was assessed as Rs2,793.199 million – 43% above the original cost of the project. The companies that were blacklisted are Abdul Majeed & Company, responsible for three projects in Islamabad, Iftikhar & Company responsible for two projects in Lahore, Techno International for one project in Islamabad and Toor Trading & Company for one project in Lahore.
Published in The Express Tribune, April 6th, 2012.