NAB approves plea bargain of billions of rupees

National Accountability Bureau

ISLAMABAD: The executive board meeting of the National Accountability Bureau (NAB) on Friday approved voluntary return (VR) of Rs 1.6 billion from Abdul Hafeez Sheikh, CEO of BNP Limited.

NAB Chairman Admiral (r) Fasih Bokhari presided over the board meeting. Sheikh was accused of having obtained loan and financial facilities from the Bank of Punjab against fraudulent documents for construction of a five-star hotel. Some CDA officials were also allegedly involved in irregularities in the hotel project, planned on 13.5 acres of land. The alleged involvement of CDA officials in the irregularity is under investigation by NAB.

In a case of wilful loan default, plea bargain (PB) of Rs 45.690 million was approved from Mian Muhammad Ejaz, CEO of Rehman Woolen Industries (Pvt) Ltd and five directors and a former manager of ABL Gadoon Amazai Branch, including Mian Muhammad Nawaz, Mian Muhammad Mushtaq, Haji Abdul Razzaq, Haji Muhammad Inshaque, Fayyaz Muhammad and Muhammad Ilyas. Another Plea Bargain of Rs 8.404 Billion from Sheikh Afzal in the Haris Steel Mills Case of Bank of Punjab was also approved. Afzal was accused of embezzling Rs 8.404 billion through credit facilities in the name of fake persons against fake collaterals/fictitious guarantees and mortgage deeds.

The board also decided to close a case due to lack of incrementing evidences against the accused, Younus Khan Marwat, ex-CEO of the Development Bank of Afghanistan (DBA). The accused allegedly misappropriated DBA funds.NAB chief seeks report on violation of secret ballot in BA.National Accountability Bureau (NAB) Chairman Admiral (r) Fasih Bukhari has taken notice of blatant violations of parliamentary norms during voting on the no-trust motion against Balochistan Assembly former speaker Aslam Bhootani.

While the voting took place in the BA a few days ago, several MPAs were seen on camera showing their votes to government officials in grave violation of secret ballot. The no-confidence move was been successfully passed and Bhootani was duly de-notified. However, Bhootani on Friday moved the Balochistan High Court against his alleged illegal removal.“This indicates misuse of authority and makes a farce of the process of the secret ballot. The NAB chairman has, therefore, instructed the NAB Balochistan DG to submit a report within seven days on the entire episode,” a statement issued by NAB said on Friday. – PT