NICL scam: SC warns commerce secretary of arrest over absence

Chief Justice Iftikhar Muhammad Chaudhry on Thursday said Commerce Secretary Zafar Mahmood should appear before court during the next hearing and his arrest orders would be issued if he failed to do so.
A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry heard the proceedings of the NICL corruption case. The SC expressed displeasure over the absence of Commerce Secretary Zafar Mahmood from the hearing.
The CJ said a case could be registered against Makhdoom Amin Fahim pertaining ineligible appointment of Ayaz Niazi as chairman of National Insurance Corporation Limited (NICL).
The SC ordered making public the investigative report of Justice Rabbani Commission in NICL scandal.
The SC also asked the Federal Investigation Agency (FIA) about the action taken against Amin Faheem over illegal appointment of Ayaz Niazi as the NICL chairman.
The court inquired why an appeal was not filed against the acquittal of Moonis Elahi, the main accused in the NICL scandal.
The SC questioned why an investigation was not being conducted over the money kept in foreign banks and why that money had not been brought back to the country. FIA Director Muazzam Jah told the SC that Zafar Saleem, who sold property for paying loans of Amin Fahim, died in Air Blue plane crash in 2010.
He said the Rs 900 million cost of the NICL land sold was much less then its worth and the money was deposited in a joint account of Khawaja Akbar and Khalid Anwar.
He said Khalid Anwar used to be the front man for late Zafar Saleem, and that the money was deposited to 16 various accounts, including that of Amin Faheem.
During the hearing, the CJ said Ayaz Niazi was illegally appointed the NICL chairman and Amin Faheem was alleged to have been behind the decision. The chief justice said Zafar Mahmood should have registered a case against the illegal appointment.
Justice Jawad S Khawaja remarked that if such examples were set, every guilty person would claim to be innocent.
The chairman of the Securities and Exchange Commission of Pakistan (SECP) also appeared before the court and presented procedures of appointment of the chairman. Later the case’s hearing was adjourned until June 11.