Islamabad, Mar 17 2025: The Senate Committee on Problems of Less Developed Areas has uncovered significant financial mismanagement in Prominent Islamabad Housing Society.
The Federal Government Employees Housing Authority’s (FGEHA) Park Road project, exposing that Rs. 3 billion was disbursed despite no tangible work being carried out.
During the inquiry, it was revealed that a contractor secured project funds using a fraudulent bank guarantee. Shockingly, the Finance Director approved payments without verifying the document’s legitimacy.
Further allegations surfaced that the same official later attempted to intimidate the contractor by threatening to blacklist the guarantee.
READ MORE:
Pakistan Fertilizer Sector: Sales Down, Profits Steady
Committee members, including Senators Hamid Khan and Dinesh Kumar, expressed outrage over the apparent corruption and inefficiency, particularly noting that lawyers who invested in the housing scheme had yet to receive their promised plots.
They criticized the Prominent Islamabad Housing Society, FGEHA for mismanaging finances and allowing prolonged delays in project execution.
Concerns were further raised regarding the Finance Director’s transfer, as his name was omitted from the ministry’s internal investigation, raising questions about accountability and potential cover-ups.
In response, Senator Agha Shahzeb Durrani, who chaired the meeting, directed that all relevant records be presented for further scrutiny to ensure those responsible are held accountable.
In a separate but equally concerning matter, the committee expressed its frustration over the absence of key officials from the Ministry of IT and Telecom during discussions about IT sector development and the use of Universal Service Fund (USF) resources.
The committee’s chairman strongly criticized the failure of the Secretary and Additional Secretary to attend, describing it as a sign of disregard for parliamentary oversight.
Ministry representatives explained that the IT Secretary was on an official visit to Azerbaijan, while the Additional Secretary was attending a meeting at the Prime Minister’s Office.
However, when asked if any of the present officers two at Grade-21 and one at Grade-22 held the position of Principal Accounting Officer, the response was negative, further frustrating committee members.
Senator Durrani condemned the ministry’s dismissive attitude and directed that an official letter be sent to express the committee’s dissatisfaction.
He warned that if the senior officials failed to attend the next session, the matter would be escalated to the Privilege Committee for further action.
The developments highlight ongoing concerns regarding financial transparency in government projects and the lack of accountability in key sectors, raising calls for stronger oversight and institutional reforms.
