Lahore : NAB has declared that former Chief Minister Punjab Shahbaz Sharif is accused of misuse of powers, he as a CM unlawfully used the powers of Board of Directors of PLDC and cancelled the contract of Ch Latif and sons with the convenience of secretary implementation Fawad Hassan Fawad,the company had won the tender on merit.
The accused cancelled the contract to benefit his favourite company and got financial benefits in return,the NAB declaration revealed. Shahbaz Sharif ordered to give contract of Aashiyana Iqbal Project to LDA which was illegal act whereas PLDC was formed for such kind of projects .
NAB claimed that accused Ahad Cheema who was than DG LDA got illegal benefits by allowing the contracts given on Public private partnership. and given the contract to Bismillah Engineering which was a proxy company of Paragon.
2000 kanal land was supposed to give to said company as a construction cost.
These have been the financial losses to state kitty in shape of gratifications and others to paragon etc caused through this project
25 crore on feasibility study, ads etc
-40 crore on liquidation damages( not paid by contractor)
– 4 billion Cost escalation
-14 billion paragon ( Bismillah construction) is beneficiary
Punjab government surprisingly cancelled the contract in 2017 when NAB started inquiry into this matter ,spokesman revealed.
It would be important to mention here that Shahbaz Sharif as a CM Punjab held a press conference in 2017 and stated the facts why Punjab government cancelled the contract of Latif and sons and given reason that the company had not started work on the project even after a year , a notice was given to the company but it could not matched the famous “Shahbaz Speed” to complete the project.
NAB declaration also confirmed that former CM had not minted money through this project rather he misused the official power by cancelling the contract.