Daily Times

ISLAMABAD: Capital Development Authority (CDA) Building Control Section (BCS) Director Muhammad Shahfi Marwat has been removed from his post because of his refusal to grant changes to the design of the Centaurus Mall.

Despite immense ‘pressure’, the civic body had refused to issue a partial completion certificate to the Centaurus Mall and also rejected to allow changes in its original design on Tuesday.

Sources inside the CDA linked the transfer of the BCS director with the aforementioned decision as he had categorically rejected to do anything beyond the rules.

“Marwat is the person who did a remarkable job in removing commercial activities from the residential sectors. He also sealed the premises of Grand Hayat Hotel and Safa Gold Mall over the violations of bylaws,” an officer of the authority said.

“The mafias of the city were already against him, but his ‘lawful role’ in the case of Centaurus Mall has become a final cause for his departure from the office,” sources said.

Meanwhile, Shahzada Faisal Naeem, the Civil deputy director, has been given temporary charge of the post. When contacted, the Islamabad mayor said: “It is a routine transfer order and it has nothing to do with any specific case.”

The owner of the mega shopping mall wanted to use its Tower C as a hotel tower, deviating from the original approved design.

According to the CDA documents, as per its original approved design, the Centaurus Mall was supposed to construct four towers — A, B, C and D. The fourth (D) was to be a 42-storey hotel tower. Towers A and B were meant for apartments while Tower C was for offices.

“The said plot was auctioned at a controlled rate for the construction of a hotel-cum shopping mall, residential apartments and offices. However, now the owner wants to avoid the construction of a hotel as it is a less profitable business with a static investment of billions,” a sources told Daily Times.

Moreover, the owners of Centaurus Mall also wanted a partial completion certificate from CDA by ignoring huge violations committed on ground by them.

The violations includes construction of 33 floors against the approved 29 storeys, increase in number of apartments from 160 to 185, raise in the height from 390 to 422 feet, operating shopping centres in the mezzanine basement, which was originally reserved for parking only ie Al-Fatah Shopping Mall and Monal Downtown in the plant room.

ICST: The Islamabad Chamber of Small Traders (ICST) on Thursday said that the investment climate had improved. The China Pakistan Economic Corridor (CPEC) will boost it further. It will improve Pakistan’s economy as well as contribute to the improved investment climate in the country,” said ICST Patron Shahid Rasheed Butt.

“Pakistan needs an investment equal to 20 percent of its Gross Domestic Product (GDP) to achieve required economic growth as the current rate of investment is keep GDP growth rate under stress,” he said.

He said that the last year’s investment target was 17.7 percent. “It had remained 15.8 percent, slightly better than the previous year. The target for fixed investment was 16.1 percent which could not be achieved. However it remained 14.2 percent with 0.2 percent improvement,” he said.

Shahid Butt said that the private investment had dropped from 10.2 percent to 9.9 percent against a target of 12.2 percent.

He said that apart from investment, the situation of national savings was also not good. “The target for national savings was 16.3 percent, but it was recorded at 13.1 percent because banks are more concerned about profits. They are giving negative return to account holders,” he said.

He said that government had failed to honour its commitment to privatise Pakistan Steel Mills, the Pakistan International Airlines and power companies due to political concerns. “Otherwise, the investment situation will have further improved,” he said. He said that as soon as the power crisis was resolved and political instability subsided, the local and private investment might further improve.