NA body dis­sat­is­fied over FIA probe into NICL scan­dal

The Pak Banker - - Front Page -

IS­LAM­ABAD

The Na­tional Assem­bly Stand­ing Com­mit­tee on Com­merce has ex­pressed dis­sat­is­fac­tion over the in­ves­ti­ga­tion of Fed­eral In­ves­ti­ga­tion Agency (FIA) into the mul­ti­mil­lion Na­tional In­sur­ance Com­pany Lim­ited ( NICL) scan­dal.

The meet­ing of Na­tional Assem­bly Stand­ing Com­mit­tee on Com­merce held here on Wed­nes­day un­der the Chair­man­ship of law­maker En­gi­neer Khur­ram Dasta­gir Khan of Pak­istan Mus­lim League-Nawaz.

While giv­ing briefing to the com­mit­tee Ad­di­tional Di­rec­tor Gen­eral FIA Muham­mad Afzal Ma­lik in­formed that to­tal 7 cases were reg­is­tered against NICL out of which four reg­is­tered in Lahore and the re­main­ing three in Karachi.

Na­tional In­sur­ance Com­pany Lim­ited in 2010 pur­chased 803 kanal 19 Marla land be­long­ing to the fam­ily of ex-min­is­ter for state Habib Ul­lah War­ri­ach sit­u­ated in Lahore in vi­o­la­tion of Pak­istan Pro­cure­ment Reg­u­la­tory Author­ity (PPRA) rules on ex­or­bi­tant rate. The mar­ket value of the land at the rel­e­vant time was Rs.2, 00,000 per kanal whereas man­age­ment of NICL pur­chased the same at the rate of Rs.21, 00,000 per kanal for which the en­tire pay­ment of Rs.1686.3 mil­lion was made to the seller with­out get­ting the land mu­tated or ob­tain­ing its pos­ses­sion.

He in­formed that dur­ing in­ves­ti­ga­tion 17 ac­cused per­sons were iden­ti­fied and 4 ac­cused per­sons have been granted bail by the court whereas rest of the ac­cused per­sons have been de­clared as pro­claimed of­fend­ers. He said the en­tire pay­ment made by NICL to the seller com­pany amount­ing to Rs.1686.3 mil­lion has been re­cov­ered and trans­ferred to the ac­count of NICL.

Ad­di­tional Di­rec­tor Gen­eral FIA ap­praised that in 2009 NICL pur­chased 20 kanal 2 Marla com­mer­cial plot owned by Mohsin Habib War­ri­ach sit­u­ated in Lahore in vi­o­la­tion of PPRA rules on ex­or­bi­tant rate as the man­age­ment pur­chased this plot for Rs 1065.3 mil­lion whereas its mar­ket value as per rev­enue au­thor­i­ties was Rs 150 mil­lion only at the rel­e­vant time which shows an ap­prox­i­mately loss of Rs 915.3 mil­lion to the na­tional ex­che­quer.

Dur­ing in­ves­ti­ga­tion 10 ac­cused per­sons were iden­ti­fied and the ac­cused per­sons ex­cept Ayyaz Khan Ni­azi have been granted bail by the court whereas rest of the ac­cused per­sons have been de­clared as pro­claimed of­fend­ers.

He said ac­cord­ing to the eval­u­a­tion re­port sub­mit­ted by NESPAK the ac­tual loss was cal­cu­lated as Rs.500 mil­lion out of which as sum of Rs.80.4 mil­lion was de­posited on be­half of Mohsin Habib War­ri­ach as re­cov­ery and the re­main­ing Rs.420 mil­lion is yet to be re­cov­ered.

Muham­mad Afzal Ma­lik fur­ther in­formed that Rs.220 mil­lion were trans­ferred form the ac­count of Mohsin Habib War­ri­ach to the ac­count of Adil Traders in Al­lied Bank Ltd Lahore. He said dur­ing in­ves­ti­ga­tion Muham­mad Ma­lik dis­closed that fic­ti­tious ac­count was opened on the di­rec­tion of Mohsin Habib and Moo­nis Elahi and the en­tire amount of Rs.220 mil­lion with­drawn from ABL by him in five transactions and the same was handed over to Moo­nis Elahi.He said in the case court ac­quit Moo­nis Elahi while the re­main­ing two ac­cused Muham­mad Ma­lik and Rizwan Ali Bhatti are on ju­di­cial re­mand.

The com­mit­tee also ex­pressed an­noy over the re­peated non-ap­pear­ance of Fed­eral Min­is­ter for Com­merce Makhdoom Amin Fahim .It was in­formed that out of to­tal 62 meet­ing of Com­merce Com­mit­tee held in last four years Fed­eral Min­is­ter Com­merce only at­tended 3 meet­ings which was very un­for­tu­nate as the min­is­ter has no time to at­tend the com­mit­tee meet­ing to ap­praise the law­mak­ers about the most im­por­tant is­sues of Pak-In­dia trade re­la­tions and the PakAfghan tran­sit trade.

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