NAB to launch probe into 56 public sector firms' affairs

LAHORE: The National Accountability Bureau has finally decided to launch a thorough probe into affairs of the 56 public sector companies formed by Shahbaz Sharif administration in Punjab for their alleged involvement in corruption.

Taking notice of a number of complaints against these companies, NAB Chairman retired Justice Javed Iqbal ordered the bureau's Lahore head Shahzad Saleem to hold an inquiry into alleged irregularities, recruitment in violation of procurement rules and merit, nepotism, non-completion of various projects on time, lack of performance and regular audit and non-transparent procedure of tendering in these companies which come under direct supervision of Chief Minister Shahbaz Sharif.

In a statement issued here on Saturday, the chairman directed the officials concerned that these companies should not be stopped from working till enough evidence was gathered against them. He also directed that legal course should be followed during the process of investigation. Sources said the NAB would try to complete the probe at the earliest. "Shahbaz Sharif, being the chairman of these companies, may face the music if such illegalities are proved during the NAB probe," an official source told media. Punjab government spokesman Malik Ahmad Khan did not respond to the media's queries in this regard. A case against these companies is also pending in the Lahore High Court. According to petitioners, the Shahbaz administration had established 56 public sector companies some 9 years ago on the pretext of "good governance". "Over Rs150bn were spent on these companies from exchequer. This model of governance is the brainchild of Shahbaz Sharif who is impressed by the Turkish model of governance and is following it here. It is the main reason Turkish people are hired as consultants in various companies and now they have been working in various mega projects," a petitioner said. The next hearing is due on Nov 28.