The National Accountability Bureau (NAB) has approached the Federal Investigation Agency (FIA) for the complete record of the Metro Bus Project Multan after initiating a probe into the project affairs.
According to a media report, NAB Multan approached FIA’s officials investigating the matter to get their findings. A letter written to FIA by NAB states, “It has been revealed that the FIA Punjab is conducting an inquiry pertaining to the Multan metro project, it is therefore under Section 18 (d) of the NAO 1999 requested to depute the officer concerned to hand over the record to NAB Multan Deputy Director Muhammad Shahid on November 17.”
NAB Chairman Justice (r) Javed Iqbal in October had ordered the bureau to probe the project. On a complaint of the Securities and Exchange Commission of Pakistan (SECP), the FIA, in September, had started probing allegations of money laundering and corruption within the project.
The FIA sent State Bank of Pakistan (SBP) and the SECP several letters seeking record about the Yabaite company and details of 16 international companies involved in money exchange over the past few years.
FIA investigators have recorded statements of Sheikh Ijaz Asghar and Salman Iqbal of Yabaite Pakistan. The police had arrested both the accused after registering an FIR (First Information Report) against them for fraud in connection with Multan metro project.
FIA Director General Bashir Memon said they would hand over all the relevant record to the NAB. He said the NAB had the power to take over any case from any investigating agency if it wanted to investigate it.
Investigations against the Jiangsu Yabaite Technology, listed on the Shenzhen Stock Exchange by the China Securities Regulatory Commission (CSRC), were initiated last year after some foreign inflows were detected in its accounts.
The CSRC had approached SECP in December last year for assistance regarding the Yabaite company. Furthermore, SECP told the CSRC that the Capital Engineering and Construction was not registered with it and its office address had not been traced yet.