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That is why it is important to have regulation of the housing schemes to ensure that they keep the money raised from file owners separate, and it is only spent on development work and not for admin expenses or for anything else.
Phase 1-6 is safe as well as phase 7, safari valley and some parts of phase 8. Basically where you have plots on the ground you are safe otherwise you are taking a big risk. I would be reluctant to buy a new launched project when I can buy an existing on the ground plot for the same price or with a little premium on top.
Bahria has benefitted Pakistan, it has pioneered a new type of development that was aimed at affluent overseas pakistanis and their high expectations, and he made it affordable. Now Bahria is a big organisation it needs to evolve and go straight. It is unfortunately becoming a victim of ego of Malik Riaz and his desire to become a politician instead of remaining a businessman. It is also becoming a victim of his greed. At the start having a vision and taking big risks was a gamble and it worked for Bahria but doing the same again could be the undoing of Bahria Town.
If the field was open and there was no corruption then there would be plenty of other operators like BT in the marketplace, but there aren't because of the environment in Pakistan which only favours organisations like BT and DHA. It is very difficult to make any headway there without paying bribes to people.
The root cause is the system in Pakistan. There is a need to overhaul it. To have checks and balances and to have systems and procedures. Power needs to go with responsibility and accountability. Power corrupts and absolute power corrupts absolutely.
As I mentioned previously Malik Riaz has been blessed with a lot, and now he needs to start acting like a real businessman as opposed to continue acting like a don. Being a don may have helped him in the past but now only being a businessman will help him and his organisation. Some people just don't know when it is time to stop.
What a coincidence that they are both out of the country if it is true. Doesn't matter if he is no longer the chairman as it is a private family company so he will still be the head even if someone else has the title.
You are probably right. But the problem with Pakistan is this corruption in politics, they will not let anyone operate without getting their share and wrap you around so bad that once plunged into it, can't rise again. And being a don is probably the way out. And he is too deep into it now. The day he pulled out, he will be history.
I understand what you are saying but there are also many other big businessmen in Pakistan that operate on a different level even if they still have to bribe the bureaucrats and politians. Asad Umer of Engro is a good example as is shaukat and janhangir tareen.
I would not encourage anyone to buy into BT's new projects when they have failed to even complete the old projects. Older projects are safer than newer ones. They keep launching new schemes and using other peoples money to make more money, and eventually it could be a big Ponzi scheme.