KARACHI: The Sindh High Court (SHC) the other day granted bail to Oil and Gas Development Company Limited Jamshoro (OGDCL) former managing director, Joint Venture Limited (JJVL) executive director and others in the Rs17.4 billion corruption reference against Pakistan Peoples’ Party (PPP) leader Dr Asim Hussain and others.
The PPP leader along with others was booked by the National Accountability Bureau (NAB) for allegedly causing a multi-billion loss to the national exchequer in connivance with each other.
According to the NAB, Dr Asim while misusing his powers had allowed the JJVL to process gas at different gas fields without conducting an open auction, signing agreements and memorandums of understanding as required by law during his tenure. The total loss caused to the national exchequer by the accused persons was Rs17.4 billion.
Other accused included SSGC managing director Khalid Rehman, former officials Zuhair Siddiqui, Azeem Iqbal, Shoaib Warsi, Yusuf Jamil Ansari and Malik Usman, OGDCL former managing director Basharat Mirza, senior official Zahid Bakhtiar and JJVL chief executive officer Iqbal Z Ahmed.
The accused persons, through their counsel, had filed bail pleas and submitted that the charges leveled against them were baseless.
On the other hand, the NAB prosecutor opposed their pleas and argued that there was sufficient evidence against the suspects based on which their pleas should be dismissed.
After hearing the arguments from both sides, the SHC bench, headed by Chief Justice Ahmed Ali M Shaikh, accepted the bail applications of OGDCL former managing director Basharat Mirza, JJLV’s Iqbal Z Ahmed and others while directing them to submit Rs2 million each as surety.