ISLAMABAD - Federal Government Employees Housing Foundation has put billions of rupees submitted by its members at stake as the contractors of Thalian Housing Scheme and Bara Kahu Green Enclave-II are continuously failing to fulfil their commitments.

The FGEHF signed two joint-venture agreements in 2016 and 2018 with Ks Developers and International Centre for Services Exchange to develop Thalian Housing Scheme and Bara Kahu Green Enclave-II, respectively.

In response, thousands of members of the foundation deposited billions of rupees in total to get plots in the schemes.  A total of 17,845 members submitted their down payment for Green Enclave-II in 5 categories,.  

On the other side, 214 members of category-I, 1467 of category-II, 2,506 of category-III and 4,211 of category IV submitted down payments for Thallian Housing Scheme.

However, besides stashing billions of rupees in profit accounts and making tall claims, the foundation has been failed to get the project started. In last month, the FGEHF had also issued final notices to both the developers for cancellation of joint venture contracts on their failure to proceed according to agreed terms and conditions of their agreements.

The issuance of letters not only proved that the projects have been failed to gain momentum but has also created uncertainty and unrest among the members who invested their hard-earned money in the projects.

There are several issues including those of access road, compactness of land, transfer of land and payment of taxes for the projects about which the foundation expressed grave concern. 

The foundation had given 15 days to Ks Developers and International Centre for Services Exchange to launch Thalian Housing Scheme and Bara Kahu Green Enclave-II to respond and threatened that otherwise their agreements would be revoked.

According to the JV agreements, the private parties were bound to provide the possession of plots to the owners within 24 months while the term could be extended up to 36 months with the prior consent of both the parties.

In case of Thalian Housing Scheme, the contractor has already consumed 29 months and liable for the cancellation of its contract but the foundation is giving undue favour to the party while the developer of Bara Kahu Green Enclave-II has still 12 months in hand but there is no demarcation of land or physical development on ground. 

Reliable sources revealed that the foundation perceived that they were losing the projects as the private developers had failed to achieve the targeted progress. They alleged that the management of FGEHF to shift the liability was doing bureaucratic tactics by writing such letters.   

However, when contacted to know the current status of the agreements after the expiry of the 15-day deadline given in the letters, the Director General FGEHF Waseem Hayat Bajwa expressed his hope that the foundation would be able to kick off these projects very soon.

“We did not cancel the JVs as the developers responded to our letters and assured to fulfil the requirements within few months”, he added, claiming: “We are actively pursuing these projects and trying to complete the same within the shortest span of time.”

He stated that the foundation did not want to scrape these projects as thousands of members were waiting to get possession of their plots.

These two projects are not the only examples to show the poor performance of the Federal Government Employees Housing Foundation but rest of its projects also tell the same story.