LAHORE – An accountability court on Monday extended the physical remand of Danish Shamshad, accused of involvement in the Lahore Mass Transit System Project scam until February 26. Danish is a shareholder in more than 10 properties purchased by his father and key accused in the said reference.
Former Punjab Transport Department cashier Shamshad Gulzar embezzled Rs 401.155 million from funds allocated for the Lahore Mass Transit System Project. Separately, National Accountability Bureau (NAB) Chairman Justice (r) Syed Deedar Hussain Shah distributed Rs 27.50 million among 500 affectees of the Double Shah scam at the Al Hamra Arts Council.
The NAB chairman appreciated efforts of NAB Punjab in handling one of the biggest financial scams and disclosed that payments out of recoveries of other cases including the Canal Motors scam would soon be materialised. Earlier, NAB Punjab disbursed two instalments to all direct investors and now final payments of Rs 110.897 million are being disbursed among 4,204 affectees having claims up to Rs 0.1 million.
Until now, NAB Punjab has distributed 36,000 cheques and pay orders among 24,000 affectees of the Double Shah scam. It was disclosed by the NAB Punjab DG that over Rs 1 billion have been distributed among affectees while plea bargain applications worth Rs 7.5 billion, submitted by the main accused of the scam, are in legal processing.
Lahore Mass Transit System suspects remand extended
