LAHORE, March 10 (Alliance News): Prime Minister Shehbaz Sharif has formed a three-member inquiry committee to probe alleged irregularities in the lease of Port Qasim Authority (PQA) land, following concerns raised by Senator Faisal Vawda in the Senate Committee on Maritime Affairs.
The PM Inspection Committee chairman will lead the inquiry, with directors from the Intelligence Bureau (IB) and the Federal Investigation Agency (FIA) as members.
The committee will examine whether the land value was reassessed before settlement, if market rates were considered, and why the lease agreement remained under stay orders for 12 years. It will also scrutinize the PQA board’s decision to settle disputes out of court.
The inquiry team has been tasked with vacating the stay on the lease agreement cancellation and will submit its report within two weeks, with the Ministry of Maritime Affairs providing secretarial support.
Scandal Details
According to Senator Faisal Vawda, a controversial lease agreement was signed on July 9, 2024, for 500 acres of land at Port Qasim with an advance payment of only 2%, significantly undervaluing the estimated Rs60 billion worth of land. Following revelations in a Senate committee meeting, the deal was canceled within 72 hours.
Vawda accused PQA officials of misleading the public through media statements and criticized the Port Qasim Board for allegedly selling land worth Rs60 billion for just Rs5 billion. He also recommended freezing all pending land acquisition payments at Port Qasim, Karachi Port Trust, Gwadar Port, and the Pakistan National Shipping Corporation (PNSC) until further investigations are completed.
During an appearance on Geo News’ “Capital Talk”, Vawda presented documentary evidence of the land scam, alleging that Minister for Maritime Affairs Qaisar Sheikh was responsible for negligence.
He further claimed that land worth millions was sold for as low as Rs800,000 to Rs1 million per acre under the guise of foreign investment, with investors later disappearing.
Authorities are expected to take further legal action based on the inquiry findings.
