From Geo News · · 1m 20s
Islamabad's One Constitution Avenue to Five-Star Hotel
Pakistan's government plans to convert Islamabad's One Constitution Avenue building into a five-star hotel within months after cabinet approves JIT report on irregularities.
In brief
Pakistan's government plans to convert Islamabad's One Constitution Avenue building into a five-star hotel within months after cabinet approves JIT report on irregularities. Pakistan's government will convert One Constitution Avenue into a five-star hotel within months following cabinet approval of a joint…
Government plans hotel conversion
Interior Minister Mohsin Naqvi announced the government will convert One Constitution Avenue into a five-star hotel within months after cabinet approved JIT report.
“We will make every effort to convert this building into a five-star hotel within the next few months, which was its original purpose”
Cabinet approves JIT report
Federal cabinet approved the joint investigation team's findings on irregularities in the One Constitution Avenue project.
JIT identifies irregularities
The JIT report found 254 apartments sold through 99-year sub-leases despite project approval as a hotel with serviced apartments.
JIT names alleged mastermind
Abdul Hafeez Sheikh is identified as the alleged mastermind behind irregularities, along with former CDA officials and others.
Compensation for affected buyers
Affected buyers will receive principal investments plus KIBOR interest as compensation.
NAB investigation underway
National Accountability Bureau will investigate those involved in irregularities and file references within three months.
Project to be renamed
The project will be renamed after Ministry of Foreign Affairs objected to its use of One Constitution Avenue address.
Fire safety and reforms
CDA will install fire-safety equipment and overhaul procedures to prevent future irregularities.
At a glance
Pakistan's government will convert One Constitution Avenue into a five-star hotel within months following cabinet approval of a joint investigation team report that found irregularities in the project.
