R3 Project A.K.A Rawalpindi Ring Road project started during the period of the previous government but the revised plans were presented under the PTI government. A bunch of allegations recently arose that the revisions of the plan were made only to benefit private entities and individuals. Now an underlying investigation into the scam tracked down that more than Rs130 billion has been procured in property deals in the Rawalpindi Ring Road project since it was started in 2017.
Authorities discovered that 18 politically associated people and 34 compelling builders and property moguls have gained around 64,000 Kanal of land in various arrangements inside the constraints of the Rawalpindi/Attock circle, Paswal Zigzag, GT Road, and Islamabad Margalla Avenue. So, the total of 52 people, either directly or through front men, aggregately acquired more than 63,828 Kanal of land by paying an estimated Rs31 billion to the genuine proprietors. A few bits of the terrains were supposedly gotten over the most recent four years.
The worth of this land was expected to increase heavily once the work on the Rawalpindi Ring Road project began.
In investors conference; held at Rawalpindi Gymkhana, participated over 80 representatives of more than 20 local and foreign construction and investment companies. Commissioner Rawalpindi retired Captain Mohammad Mehmood informed the participants about the tax exemption and investment opportunities in the mega project of Rawalpindi Ring Road which was about to be launched under a public-private partnership basis.
The commissioner also said that the investors find Ring Road project attractive since there is no pivotal stumbling block in the project. Since most of its track passes through arid and barren lands, we won’t be facing any issues in land acquisition. Participants of the investors’ conference told that political parties, provincial and federal governments, and social circles are keen to see work on the project launched and completed as soon as possible.
The Ring Road would interconnect the cities of Rawalpindi, Islamabad, and Attock directly whereas residers of Chakwal and Jhelum would also be suitable to advantage from it, said the commissioner. The significance of the design would be multiplied once it becomes a part of the China-Pakistan Economic Corridor (CPEC) route. “The construction period of the the66.3-km-long road is two times while the profit generated from the design for a period of 25 times will go to the investor. He said that its conservation and operations are also going to be the responsibility of the investor himself.
But the latest news on the topic is that work on the project stopped in April after an inquiry was initiated into the R3 scam against former commissioner retired Captain Mohammad Mehmood and other government officials reportedly changing the alignment of the plan. Many cabinet members were named and Special Assistant to Prime Minister Zulfikar Bukhari resigned over the controversy.
A letter has been sent to RDA by the director-general of the Anti-Corruption Establishment. And, this matter may be treated as “top priority” and requisite information provided to their office within a day or two through an officer not below the rank of BS-17, and the information has to be updated with the facts and figures of the case. The future of the project remains uncertain despite govt’s claims of starting it with a new alignment. This kind of situation puts the investors of any project in unease. Since investors’ trust in the project R3 has been shattered after the news about the R3 scam broke out.
Pakistan’s government needs “private investment” more than ever before, to generate funds to develop the public infrastructure. But, on the other hand, civil servants are scared to put their names on any major decisions, considering the recent events of anti-corruption investigations, inquiries, and litigation An extended inquiry and increasing uncertainty can further harm this chasm between the government, bureaucrats, and investors.
