The Executive Board Meeting (EBM) of National Accountability Bureau (NAB) which met with its Chairman Qamar Zaman Chaudhry at NAB Headquarters on Tuesday authorities two investigations, an inquiry and two complaints verifications (CVs).
The EBM authorized an investigation against ex-MNA Faisalabad Raheela Kausar and Awais Behram, Ex-Assistant Director, EOBI/FIA. The accused persons were alleged for accumulation of assets beyond known sources of income.
Second investigation was authorized against officers of National Bank of Pakistan (NBP). in this case, the officers and staff posted at the four branches of NBP in Bangladesh got involved in the abuse of discretionary powers in processing and sanctioning of credit limits, failed to perform due diligence, willfully avoided to conduct proper valuation of securities offered by the borrowers and caused huge loss to the national exchequer to the tune of US$ 185 million.
The EBM also decided to re-authorize one investigation against Mehmood Alam, Ex-Federal Secretary, Ministry of Climate Change and Sikander Aslam, Member Accountant Appellate Tribunal Inland Revenue, Karachi, Director of M/s Ssangyong Korea & Usmani Associates, officers/officials of Board of Investment, Federal Board of Revenue and others. In this case, the accused persons were alleged for misuse of authority, illegal exemption availed under SRO 575 on Custom Duty in excess of 5% and whole of Sales Tax and illegal refund of Sales Tax. Thus causing loss of Rs. 410.62 million to the national exchequer.
