Now, Pak Public Accounts Committee sniffs 'mega scam' in Tokyo embassy sale

Islamabad, Jan.19 (ANI): In what may well add to the list of numerous scams in the country, Pakistan National Assembly's Public Accounts Committee (PAC) has asked the Foreign Office (FO) to submit a report within the next two weeks regarding the alleged sale of Pakistan's embassy building in Tokyo at a throw away price.

According to sources, the PAC has asked the FO to submit a report on the controversial deal made with Nomura Real Estate Holdings, Japan in 2007.

When enquired about the issue, the then ambassador to Japan, Kamran Niaz, denied any foul play in the deal, saying it was not the embassy building, but a plot which was disposed of as part of a swap arrangement under prescribed rules and regulations.

Niaz said under the swap arrangement the plot was disposed of for 6.3 billion yen, which was the maximum assessed market value at that time.

He also rejected the notion of the deal being kept 'secret', and said that it was finalised only after the government's approval and under guidance and instructions from the Ministry of Foreign Affairs.

"The new embassy complex was mere 400 metres from the old embassy premises. It was built at practically no cost to Pakistani taxpayers and saved the government 1 million dollars per year in rentals," The Dawn quoted Niaz, as saying. (ANI)