ISLAMABAD (Kashmir English): Former Prime Minister and Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan owns two properties in Islamabad’s controversial One Constitution Avenue apartments, renowned journalist Zahid Gishkori reported.
Gishkori claimed that Imran Khan declared a luxury apartment in 2021 and a commercial shop in 2022 during his tenure as Prime Minister.
As per the report, the commercial property was declared at a value of around Rs125.8 million, while the apartment was initially declared at Rs11.9 million in 2021.
The journalist further claimed the properties were reportedly included in declarations submitted to tax authorities and relevant institutions.
A year later, the declared value of the flat reportedly increased to more than Rs30 million.
The documents further suggest that the overall declared assets of the PTI founder witnessed a sharp increase between 2021 and 2022.
In 2021, his assets were reportedly valued at around Rs141 million, while in 2022, the total declared assets rose to approximately Rs328 million.
One Constitution Avenue controversy
Earlier this month, the Islamabad High Court (IHC) dismissed the petition of BNP (Private) Limited, owners of One Constitution Avenue building in Islamabad’s Red Zone, against the cancellation of the lease of the multi-billion-rupee project.
In a detailed verdict, the court upheld the lease cancellation order issued by the Capital Development Authority (CDA) on March 8, 2023, and dismissed the execution petition of BNP Limited, the developer of the project.
While the court disposed of investors’ petitions, ruling that buyers of luxury apartments do not have ownership rights and may instead pursue legal remedies against the builder for recovery of their investment.
In a detailed judgment, IHC Chief Justice Sardar Sarfraz Dogar dismissed a set of petitions filed by BNP along with investors and other stakeholders, challenging the CDA decision to terminate the lease.
The court held that the impugned action by CDA was in accordance with the law and consistent with the framework laid down earlier by the Supreme Court, and the petitioner did not take advantage of the lifeline opportunity granted by the Supreme Court.
Furthermore, it ruled that the petitioner did not comply with the financial conditions set by the Supreme Court, and the company failed to deposit Rs 2.916 billion of the 2022 installment.
According to the decision, the Supreme Court had restored the lease on January 9, 2019, ordering the payment of Rs 17.5 billion over 8 years, while BNP Limited deposited the 2021 installment but defaulted in paying the 2022 installment.
After repeated reminders, the CDA issued a notice on February 7, 2023, and then an order to cancel the lease on March 8, and the court also declared the Rs 500 million cheque deposited by the petitioner as insufficient.
