NA body dissatisfied over FIA probe into NICL scandal
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.