Corruption & illegal attempts seeking winding-up of Pakistan Textile City Limited

NEWSPAKISTAN.TV EXCLUSIVE KARACHI: According to sources privy to the NewsPakistan.TV – even though it is a Cabinet Committee on Investment (CCOI) decision – Port Qasim Authority (PQA), Sui Southern Gas Company (SSGC) and Ministry of Petroleum (MoP) have jointly approached the Prime Minister seeking winding-up of Pakistan Textile City Limited. Before considering winding-up of Pakistan Textile City Limited the following facts, figures, allegations and insinuations need to be taken into account: Pakistan Textile City’s 1250 acre land (at the rate of Rs. 20 million per acre) is worth (Approx.) Rs. 25 billion: All the industrial plots in the Pakistan Textile City Ltd. could be sold at the rate of Rs. 20 million per acre, in no time, provided gas and water is made available. At the market rate 1250 acres of land would fetch approximately Rs. 25 billion that is many folds the loan Pakistan Textile City Limited owes to NBP. PQA has been paid by Pakistan Textile City Limited for the 1250 acres of land and duly compensated by Sindh Government: Pakistan Textile City’s initial capital of Rs. 1.23 billion was contributed by the shareholders. The cost of approx. 1250 acres of land was fully paid to PQA out

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Source: News Pakistan

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