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National Accountability Bureau distributes Rs139 million cheques among affectees, government departments

Islamabad, May 15, 2014 (PPI-OT): The National Accountability Bureau (NAB) Rawalpindi distributed a sum of Rs.139 Million among 63 affectees of M/s Capital Builders Pvt Ltd, Islamabad Electric Supply Company (IESCO), Manawan Park towers and National Fertilizers Marketing Company Ltd (NFML) etc. at a ceremony held here today.

Deputy Chairman NAB Admiral (R) Saeed Ahmed Sargana was the Chief guest at the occasion. Deputy Chairman and DG NAB Rawalpindi handed over cheques to the affectees and concerned government departments.

Addressing the ceremony, Deputy Chairman Rear Admiral (R) Saeed Ahmed Sargana appreciated the efforts of DG NAB Rawalpindi for actively pursuing the corruption cases and making recoveries of the embezzled amounts.

He said NAB is making all out efforts to recover the looted money from the swindlers. However, this practice to invest in the unauthorized schemes in greed of more interest and returns on investments must be ended and discouraged.

He urged the people to invest only in the government approved banking system and investment companies. He said that Bureau is proactively pursuing corruption cases to clear the backlog and taking concrete measures to discourage and eradicate corruption from society.

Talking at the event, Director General NAB Rawalpindi Col (R) Shahzad Anwer Bhatti also advised people to be vigilant and check credentials of such investment companies before handing over them their hard earned money.

In case of NFML, NAB recovered Rs 104.582 Million and in first phase Rs 78.4 Million paid to NFML today. The employees and contractors of NFML embezzled imported urea fertilizer from companies Godowns located in Sindh, Punjab and Balochistan.

In case of M/s Capital Builders, the accused Ch. Tassaduq Pervez Chief Executive of M/s Capital Builders Pvt Ltd along-with others launched a housing scheme, namely “New Islamabad Garden” in Sector C-17 Islamabad.

The management of M/s Capital Builders Pvt Ltd booked more than 3000 plots in year 2005 in said housing scheme without NOC from CDA whereas the company owned only 305 Kanals at the time of booking of plots.

NAB investigated the matter on complaints received from general public. In order to avoid legal proceedings and arrest by NAB, the accused Ch. Tassaduq Pervez voluntarily came forward and submitted an application for Plea Bargain (PB) which was accepted by DG NAB (R) and subsequently approved by the Accountability Court Islamabad.

The accused Ch. Tassaduq Pervez paid Rs. 138.67 million as per PB agreement against the claims of about 424 affectees filed with NAB. NAB has already returned Rs. 100.74 million to the affectees of this scheme in first phase. In second phase today Rs 15.18 million paid to 63 affectees of the scam.

In case of M/s BNP Pvt Ltd, the company obtained business loan from Bank of Punjab (BoP) in July 2007 worth Rs1.38 billion, later defaulted in violation of pre-determined terms and conditions. An amount of Rs 1.628 billion was determined as liability of M/s BNP which they opted to return through Voluntary Return to NAB. Today, the Bureau handed over a cheque of Rs. 29.1 million to the BoP.

In another case of M/s Manawa Construction Company Islamabad, PAC forwarded a complaint to NAB. Facts revealed that CDA allotted a plot to M/S Manawa Company on lease basis in F-10, Islamabad in 1992.

The company defaulted to pay premium as well as surcharge amount. NAB determined Rs 24 million as liability of accused company which has been fully recovered and in first phase an amount of Rs 15.2 million has been paid to CDA on Thursday (today). In case of IESCO, NAB recovered 1.08 Million from electricity defaulters and paid to the distribution company.

For more information, contact:
National Accountability Bureau (NAB)
ATTATURK AVENUE G-5/2, Islamabad
Tel: 051-111-NAB-NAB (111-622-622)
Fax: 051-9214502-03
Email: chairman@nab.gov.pk, infonab@nab.gov.pk

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