The Association of Builders and Developers (ABAD) has announced to halt all its construction activities in Karachi in wake of the Nasla tower case and declaration of several other projects as being null and void by the Supreme Court, despite being approved previously by government authorities.
In light of the recent anti-encroachment drives initiated by the government, developers like ABAD have protested against the government for granting No-Objection-Certificates (NOCs) to builders for illegal projects. ABAD claims that it strictly followed all approval processes and permissions before building its projects, including Nasla tower. The current anti-encroachment drives completely ignore the fact that many developers and their projects acquired a NOC from the local government before construction. However, the current government continues to ignore these factors.
Overseas Pakistanis and local investors have heavily invested in Karachi’s real estate sector. If all the projects that previously had a NOC are demolished because of arbitrary decisions made by the Supreme Court and the government authorities, a significant number of resident and non-resident Pakistanis will lose their investments and their life savings.
Leave a Reply