Karachi (pr) - Reports of panicking overseas investors, and cancelled contracts have been received from insiders at Bahria Town, who claim that the non-availability of funds due to diverted cash flow to satisfy Supreme Court directions have left the real estate giant unable to pay salaries. And even unable to keep the lights on. Bahria Town Karachi last night switched off the lights, alarming residents and investors.
The salaries of over 45,000 employees of Bahria Town cannot be paid due to diversion of funds, disclosed insiders.
Bahria Town authorities reported that they are requesting for the release of their funds so that they may be able to continue to pay operational expenses.