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NAB authorises inquiry into PSM case

24 May, 2012

ISLAMABAD: The Executive Board of the National Accountability Bureau (NAB) on Wednesday authorised inquiry into the Pakistan Steel Mills case.

The executive board meeting, presided by NAB Chairman Admiral (r) Fasih Bokhari, approved to file a reference in a case against Mubarak Hussain Bokhari, former CW Department (Bannu) assistant director, and others. Four officials of the department and five contractors were investigated and found involved in corruption and corrupt practices causing loss of Rs 104 million to the national exchequer. Out of nine accused, one official and three contractors opted for plea bargain u/s 25(b) of NAO 1999. The board has decided to file a reference against five accused Mubarak Hussain Bokhari, Ijaz Rasool, Shah Tehmas Khan, Bakhta Zeb Khan and Akbar Ali Khan.

The board authorised inquiry into the Pakistan Steel Mills case transferred from the FIA by the Supreme Court in its judgement of May 16. The SC issued directions to appoint a team to probe multi-billion scandal and to file a reference within three months; to determine the allegations against the individuals responsible for losses; to take immediate steps to recover looted money.

The executive board has authorised inquiry into the case and a team will collect relevant material/inquiry report from the FIA. The board also authorised inquire into three willful loan default cases under Section 31-D of NAO 1999 against the directors and guarantors of M/S Tanveer Spinning and Weaving Mills Pvt Ltd Lahore (Rs 158.465 million), M/S High Street Developers Pvt Ltd Lahore (Rs 71.102 million) and M/S Delta Construction Pvt Ltd Lahore (Rs 142.977 million).

The board approved a voluntary return (VR) against Syed Haseeb Azhar, a beneficiary in Qasr-e-Zauq case. In another case, the board approved VR in terms of supply of paper to the Sindh Textbook Board instead of cash. The board decided to close inquiry against the management of the CAA in a case of illegal appointment of a commercial manager due to lack of evidence.

End.

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