News
Tuesday, March 22, 2011
Rs 1.68 billion recovered in NICL case, SC toldStaff Report
ISLAMABAD: The Federal Investigation Agency (FIA) informed the Supreme Court on Monday that an amount of Rs 1.68 billion has been recovered in the National Insurance Company Limited (NICL) and a challan against the accused people has been forwarded to the court of competent jurisdiction.
A three-member bench, comprising Chief Justice of Pakistan Iftikhar Muhammad Chaudhry, Justice Tassaduq Hussain Jillani and Justice Sarmad Jalal Osmany was hearing a suo motu case against the violation of the Public Procurement Rules, 2004 by the NICL in the procurement of land on very high rates causing a loss of billions of rupees to the national exchequer.
The Supreme Court heard the case regarding the alleged violation of rules by former NICL chairman Ayaz Khan Niazi in the procurement of land on very high rates and causing a huge financial loss to the national exchequer.
FIA Additional Director General, Zafar Ahmed Qureshi, submitted a report stating that in respect of a case pursuant to land measuring 804 kanals, an amount of Rs 1,68,63,00000 had been recovered and a challan against the accused people had been forwarded to the court of competent jurisdiction.
In another case, he said that an amount of Rs 80 million had also been recovered.
Qureshi further submitted that according to the latest evaluation conducted by a neutral evaluator, M/S NESPAK, there was a difference of value to the tune of Rs 500 million, thus the balance amount, that is Rs 420 million was yet to be recovered from the accused.
However, he added that an interim challan of the case had been submitted.
Qureshi said there were two banking cases in which the accused people had been arrested and lately Chaudhry Moonis Elahi had been arrested and an interim challan had been forwarded to the court.
Courtesy www.dailytimes.com.pk