Assets beyond known sources of income: NAB authorizes inquiry against former Sindh Minister, others

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ISLAMABAD, Aug 18 (APP): National Accountability Bureau (NAB) on Thursday decided to authorize inquiry against former Minister for Excise and Taxation, Sindh Gian Chand Israni and others for their alleged involvement in accumulation of assets beyond known sources of income.

An Executive Board Meeting (EBM) of NAB held with Chairman NAB, Qamar Zaman Chaudhry in chair here, took some decisions including authorization of seven inquiries.
First inquiry was authorized against sponsors, directors and
management of M/s Capital Vision Securities (Pvt) Ltd, brokers of Pakistan Stock Exchange Ltd and others.

In this case, the accused persons were alleged for cheating
public at large. Complaint was received from Securities and Exchange Commission of Pakistan (SECP).

The second inquiry was authorized against Muhammad Tariq Ali, owner of M/s Data lubricants and others. In this case, the accused persons were alleged for willful loan default of Rs. 52.942 million referred by State Bank of Pakistan (SBP) under 31 D.

Third inquiry was authorized against officers/officials of
Pakistan State Oil (PSO) and others. In this case, the accused persons were alleged for misuse of authority in procurement of petroleum products, causing a loss of millions of rupees to national exchequer.

Fourth inquiry was authorized against Gian Chand Israni, Ex
Provincial Minister for Excise and Taxation, Sindh and others while fifth inquiry was authorized against officials of Sindh Agriculture Department and others.

In this case, the accused persons were alleged for
embezzlement of funds of subsidized tractor scheme, causing a loss of millions of rupees to national kitty.

Sixth inquiry was authorized against Ghulam Qadir Palijo,
Ex MPA District Thatta, Sindh. In this case, the accused person was alleged for accumulation of assets beyond known sources of income.

Seventh inquiry was authorized against sponsors, directors
and management of M/s Stock Street (Pvt) Ltd, brokers of Pakistan Stock Exchange Ltd and others. In this case, the accused persons were alleged for cheating public at large. Complaint was received from SECP.

The EBM also decided to authorize two investigations the
first was authorized against officers/officials of National Housing Authority, Federal Government Employees Housing Foundation (FGEHF) and M/s Universal Enterprises. In this case, the accused persons were alleged for embezzlement of government funds. Thus caused a loss of Rs. 18.9 million to the national exchequer.

Second investigation was authorized against
officers/officials of Pakistan Tobacco Board (PTB) and others. In this case, the accused persons were alleged for misuse of authority, corruption and corrupt practices through illegal appointments in Pakistan Tobacco Board.

The meeting also re authorized investigation against Sher
Azam Khan, Ex Minister for Labour, Khyber Pakhtunkhwa and Muhammad Tariq Awan, Secretary Workers Welfare Board and others.In this case, the accused persons were alleged for corruption and corrupt practices in acquisition of land measuring 260 kanals at Mouza Shahi Bala, Peshawar and allegedly receipt of commission/kickbacks.

Thus caused a loss of Rs. 151.58 million to national exchequer.

The EBM decided to re authorize three inquiries First
was re authorized against Sardar Hayat Khan Mandokhel of M/s Exceed (Pvt) Ltd and others. In this case, the accused persons were alleged for non payment of land rent of 79 acres, situated in Saidpur Village, Islamabad. Thus caused a loss of Rs. 455.7444 million to national kitty.

The second inquiry was re authorized against
officers/officials of Abdul Wali Khan University, Mardan and others. In this case, the accused persons were alleged for misuse of authority and embezzlement of Abdul Wali Khan University funds in procurement of various items, causing a huge loss to national exchequer.

The third inquiry was re authorized against officers/officials
of Abdul Wali Khan University, Mardan and others. In this case, the accused persons were alleged for misuse of authority and embezzlement of university funds in purchase of vehicles and POL.

Thus caused a loss of Rs. 272 million.

The EBM decided to close two inquiries first against
officers/officials of Pakistan State Oil (PSO) and second inquiry against Muhammad Asim Kurd, former Minister for Finance, Balochistan and others with respect to Suspicious Transaction Report (STR) due to lack of incriminating evidence.

Later, addressing the meeting, Qamar Zaman Chaudhry
said that NAB was committed to eradicating corruption from the country by adopting Zero Tolerance Policy through Awareness, Prevention and Enforcement Strategy. He reiterated NAB’s firm resolve to come up to expectations of people for corruption free Pakistan by using all possible resources.

He directed all officials of NAB to put in their best efforts
in conduct of complaint verifications, inquiries and investigations against the corrupts in accordance with laid down laws/SOPs of NAB and on merit.