ISLAMABAD: In a significant development, the Public Accounts Committee (PAC) has directed the Federal Investigation Agency (FIA) and National Accountability Bureau (NAB) to reopen the case related to One Constitution Avenue/Grand Hyatt, a luxury real estate project in Islamabad.
In a press release, the PAC has directed authorities to freeze the bank accounts of the company that failed to pay its dues and take action against its defaulting members by blocking their Computerized National Identity Cards (CNICs) and placing their names on the Exit Control List (ECL).
The committee has instructed the Capital Development Authority (CDA) to take control of the building and remove the defaulting owners’ employees.
Additionally, any unauthorized construction in the building should be halted immediately.
The decision was made after the owners failed to pay Rs 14 billion which led to the cancellation of the land lease
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