Prime Minister Shehbaz Sharif has constituted a three-member inquiry committee to investigate alleged financial irregularities in the leasing of 500 acres of land at Port Qasim Authority (PQA), following accusations of a Rs60 billion corruption scandal, BR reported.
The decision comes after Senator Faisal Vawda, Chairman of the Senate Committee on Maritime Affairs, raised concerns over the controversial land deal, accusing a federal minister of “criminal negligence.”
The committee has been directed to complete its probe and submit a report within two weeks.
According to a notification issued by the Prime Minister’s Office, the land was designated for small and medium industrial parks, but questions have emerged over the transparency of the leasing process.
The inquiry committee will be led by the Chairman of the Prime Minister’s Inspection Commission, with Intelligence Bureau (IB) Director Sirajuddin Amjad and Federal Investigation Agency (FIA) Director Syed Shahid Hussain as members.
The probe will assess the financial discrepancies in the land lease, including whether the PQA Board conducted a re-evaluation of the land’s worth before settling the case out of court and whether market values were properly considered in the decision-making process.
The investigation will also examine why the settlement offer was not withdrawn after the petitioner rejected it and identify governance lapses that contributed to delays in resolving the matter.
The committee has been granted the authority to appoint additional members if needed to assist in the probe, while the Ministry of Maritime Affairs will provide secretarial support.
With the inquiry underway, the government is expected to take corrective measures based on the committee’s findings, which will be submitted to the Prime Minister within the stipulated timeframe.
During a Senate Standing Committee on Maritime Affairs meeting on February 19, 2025, Senator Faisal Vawda alleged that Port Qasim Authority (PQA) had leased out prime land at significantly undervalued rates, resulting in an estimated Rs60 billion loss to the national exchequer. He claimed that 500 acres of land, valued at Rs40 million per acre, was allotted for just Rs1 million per acre, while an additional 200 acres were also sold at similarly reduced prices.
A day later, on February 20, the Senate Standing Committee on Maritime Affairs took action by halting all land allotments and acquisitions at Port Qasim and Karachi Port Trust (KPT).
Amid mounting scrutiny, the Port Qasim Authority issued a statement on February 23, defending its land allotment process and denying allegations of irregularities. According to PQA, the land in question was allocated through a competitive bidding process initiated in 2005 and concluded in 2010. However, the successful bidder failed to make the required payments, leading to the issuance of a cancellation notice in 2012.
PQA stated that the matter remained unresolved for over a decade due to a stay order issued by the Sindh High Court. In 2024, the PQA Board proposed an out-of-court settlement to settle the dispute, but no action was taken after the National Accountability Bureau (NAB) Karachi requested case records.
The authority reaffirmed its commitment to legal compliance and transparency, rejecting claims of financial mismanagement.
