FIA registers case over illegal occupation of Karachi's cotton exchange building

KARACHI: The Federal Investigation Agency (FIA) on Thursday registered a case regarding the illegal occupation of the Cotton Exchange Building located on Karachi’s I.I. Chundrigar Road, ARY News reported.

Meanwhile, Karachi Mayor Murtaza Wahab has written to the FIA requesting that the building be handed over to the Karachi Metropolitan Corporation (KMC).

In response, the Director of the FIA Karachi Zone addressed a letter to the Mayor, stating that all actions were conducted in accordance with the law and based on official records.

The Evacuee Trust Property Board (ETPB) had already issued legal notices and sought assistance from the FIA to secure the property, the director informed.

In his letter to the Mayor, the Director explained that the ownership documents for the building appeared to be fake and that various other irregularities had surfaced.

He further noted that the building was being commercially exploited; it currently houses 213 tenants from whom monthly rents and charges were being collected.

The FIA Director also highlighted that they are investigating an unconventional “Pagri” (informal lease) arrangement involving the building’s tenants.

He pointed out that an alleged lease extract dated February 17, 2003, did not match government records.

Furthermore, respective official statements under Section 161 have been included in the documents.