A private company purportedly owned by Pakistan President Asif Ali Zardari and his son Bilawal has allegedly purchased land valued at Rs 2 billion for a fraction of its worth, according to a media report here on Tuesday.
The President had bought three hundred and seven acres of prime land in the federal capital in March this year.
The land that was valued at Rs 2 billion by Capital Development Authority was allegedly bought for Rs 62 million.
Zardari had apparently struck the deal in 1997 but it came through 15 years later.
“...after a complex process of legal cases, suits and counter-suits, between a person once declared by the then government as a front man of Asif Ali Zardari, another person believed to be closely associated with the president and a private
company that is jointly owned by the president, his son and a few others,” the News reported.
A Karachi-based private company — Park Lane Estates (Pvt) Ltd — purchased the land near Sangjani, a 25-minute drive from Islamabad.
The President on Tuesday was also forced to take a step back on the controversial National Reconciliation Ordinance (NRO) after coalition partners threatened to pull out and the army high command expressed reservations over the proposed legislation.
Under the NRO, politicians who were facing or had undergone criminal cases and were earlier debarred from contesting elections or holding public office, would now be able to do so.
Presidential spokesman Farhatullah Babar announced on late Monday night that that following a meeting of the parliamentary party of the ruling coalition, it was decided, “not to present the NRO bill before the parliament.”
He did not say what might become of the NRO, and the cases withdrawn under the controversial ordinance, if it was not passed and turned into an act by the parliament.