ISLAMABAD (INP): Islamabad Chamber of Small Traders on Saturday lauded the government for taking action against real-estate baron, who have minted billions of rupees by looting millions of innocent. The move has added to the credibility of the government but more real-estate tycoons involved in massive frauds of billions of rupees should be punished to restore the confidence of masses, it said. The mafia has looted millions of people by selling false promises and so far not a single influential has been sentenced for his crimes, which call for stringent laws, and proper implementation, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt. The land mafia comprising of politicians, top bureaucrats, industrialists and other powerful people has also deprived thousands of expatriates of their lifetime savings which is a reason behind low investment by them in their home country, he added. Shahid Rasheed Butt said that the mafia continues to plunder masses, grab government and private lands and go scot-free due to the cooperation of concerned departments.

Masses have never seen any inquiry against any real-estate magnate which has reached to its logical conclusion, he added.

The business leader said that the unbelievable rate of return has not only lured politicians, criminals and other influential towards the property sector but it has also diverted money from productive sectors to this sector damaging economy.

Protests in the federal capital and other cities against deceptions have become the order of the day but authorities seem unconcerned while those who opt to invoke law for their rights have to wait for decades.

He said that the unabated plunder has also hindered local and foreign investment in the real-estate sector while making a house has become impossible for an ordinary person.