A petition was filed in the Supreme Court on Friday seeking the recovery of over Rs 2 billion allegedly embezzled by the high-ups of the National Bank of Pakistan (NBP) from the staff welfare fund.
The petition was filed by Sayed Jahangir, NBP Trade Union Foundation secretary general, under Article 184(3), making the Finance secretary, FIA director general, FIA Sindh director, FIA assistant director and FIA Inspector Saeed Ahmed Memon respondents in the case. The petitioner said Rs 2 billion from the NBP welfare fund were misappropriated, misused and embezzled by the high ups and requested the court order the immediate recovery of the looted amount by directing FIA to take stern action against the culprits.
He questioned whether billions of rupees for a proposed welfare fund for bank staff could be distributed without the formation of a board of trustees and without drafting rules. The petitioner said the funds collected from the gross profit of bank had been disbursed in among the bank’s high-ups under the garb of achievement awards. He said a complaint was registered in commercial bank circle zone Sindh on April 29, 2009, on a report by FIA Assistant Director Saifullah Jokhio, who had exposed that approximately Rs 600 million in the name of achievement awards from staff welfare fund were distributed among the bank’s high-ups illegally.
The petitioner said 14 executives had received huge sums of money as achievement award from 2003 to 2008 unlawfully. He said the accused were so influential that they got the registration of the case deferred despite the permission granted by the FIA DG. The petitioner requested that the case being of public importance attracted the original constitutional jurisdiction of the apex court.
