News
Saturday, March 06, 2010
Farooqui acquitted in NAB reference
Staff Report
KARACHI: An accountability court on Friday acquitted former Pakistan Steel Mills (PSM) chairman Usman Farooqui in a National Accountability Bureau (NAB) reference.
In his verdict, Judge Riaz Rajput said the prosecution could not produce enough evidence against the accused. The NAB reference filed in 1995 accused Farooqui of causing a loss of Rs 195 billion to the national exchequer in the purchase of ferrous manganese used in the preparation of steel, during his tenure as the PSM chairman. The reference was quashed under the National Reconciliation Ordinance (NRO) but re-opened after the Supreme Court declared it null and void.
Courtesy www.dailytimes.com.pk