An official of CDA told media that the Authority had also specified Rs 930 million in its annual budget for fiscal 2010-11 to refund amount to the allottees.
The residential project was not executed due to the wrong estimates by the then concerned planners and officials. Delay in the construction of each flat has enhanced the cost upto 2.4 million from Rs 1.4 million estimated in 2005.
Despite this situation, CDA tried to go for joint venture with Chinese government but failed to ink agreement on price mechanism, the official said. The amount have already been refunded to around 50 to 60 percent of the allottees under the refund policy of CDA while some others are still approaching the authority for their amount.
- Islamabad: Date extended on demand of overseas Pakistanis (propertiesinpakistan.pk)
- CDA suspends two officers (nation.com.pk)
- Jinnah Super Market: Islamabad’s neglected heart, sweat and soul (pakistannationalnews.com)
- 13.55pc hike in gas prices notified (pakistannationalnews.com)
- PSB chief seeks corporate sector to promote sports (nation.com.pk)
- You: Mini-tourist train to be formally launched in Capital tomorrow (nation.com.pk)
- You: Consumer body advises caution in investing in CDA and Bahria housing enclaves (nation.com.pk)
- Approved Rs10 billion funds just peanut for sinking Railways (nation.com.pk)
- You: Chairlifts at Margalla Hills soon (nation.com.pk)
- IIUI has no proper link, service roads (pakistannewsupdate.wordpress.com)
- Anti-corruption drive: FBR blocks payment of bogus refunds (pakistannationalnews.com)
- SMEs need banks support to grow: ICCI (nation.com.pk)