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500
million have been eaten up in the last 9 years since 1993
It
is reported by majority of residents in Abad Cooperative
Housing Society that the existing power group has turned a
profitable society in to a loss of 500 million by now since
1993 and they are still not willing to leave this "Gadi"
having an annual income of almost 33 million reported by one
of the members of the managing committee.
People
say that when they take over in 1993, Society had a surplus
cash flow of around 12.50 million and also had much more in
shape of surplus plots but today the logical figures are
strongly pointing towards a huge loss inspite. The estimated
figures are given below for verification, if the government
have time & resources to do so.
The
cost of missing, duplicate, and impossible plots will be
around 150 million. The secretary of the Society has given a
figure of 358 plots.
The
pending development work in sector-1, sector-2, sector-3, and
especially in the extensions on street 62-A (100 Kanals),
street 60, and Ext-1 (500 Kanals) will require almost 350
million for providing basic services like roads, water supply,
Sui Gas, severage, electricity, telephone, etc. These
extensions were mostly done in the last 3/4 years where
services are yet to be provided. The management has pocketed
land as well as development cost in advance but never spent in
these so-called profitable extension projects which were
basically done by them for generating funds for the Society.
But now these white elephants can be seen by any one needing a
huge money to complete.
More
details can be seen on the following pages of our web:
- Existing Management
- Friday's News Bulletin
- Previous News
- Questionnaire
We
are a political free welfare association with prime objective
of creating awareness amongst members.
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