NAB probe picks up pace?

Author: By Rana Mushtaq

ISLAMABAD: The National Accountability Bureau (NAB) accelerated investigation against former OGRA hierarchy, Daily Times learnt on Wednesday.

The NAB officials are likely to summon former OGRA chairman Saeed Ahmed and former member gas Amir Naseem over corruption and nepotism charges, a source said. Naseem is in good books of the petroleum minister.

The court had directed NAB to prove the charges against the officials who allegedly misused their authority to oblige their cronies and caused huge financial loss to the national exchequer.

NAB will probe Amir Naseem for issuing and approving LNG terminal construction licence to ETPL in sheer violation of Clause 19.1 of LNG rules, he said, adding that the investigation officers have already grilled other senior officers, he said.

Record reveals that the former OGRA chairman had benefitted AJ Textile Mills by reversing gas theft of Rs 46 million.

The former OGRA hierarchy issued the stay orders at zero percent in large number of CNG stations which are involved in gas pilferage. According to details, the former OGRA administration ignored this practice and violated the rules to benefit their own cronies.

The ex-chairman and others were required to revise CNG prices under the Peshawar High Court and Supreme Court directions but the former administration neither revised the price nor it barred CNG association from collecting GIDC from the consumers. According to documents, the former administration doled out more than Rs 27.858 million among themselves in the name of leave encashment and other perks and privileges.

Again in contrary to the SC directions, the former administration granted illegal financial benefit to SNGPL and SSGPL during the determination of final revenue requirement for financial year 2013-14 and increased UFG benchmark from 4.5% to 7.00% as was done by former chairman Tauqir Sadiq. Sadiq is also under investigation and the court had issued instructions to prosecute him.

The new OGRA administration is also maintaining 9% UFG benchmark on the government’s behest which is an illegal act as per the court directions.

It is OGRA to direct the gas companies to stop gas theft and other losses and UFG benchmark should not be enhanced at the cost of consumers.

NAB is also going to probe the illegal appointments particularly the appointment of executive director Afzal Bajwa without advertising the post. The source said the investigation officer is likely to summon Afzal.

Share
Leave a Comment

Recent Posts

  • Business

Bears drag index down by 1,331 points

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 1,331.86…

20 hours ago
  • Business

Finmin highlights challenges posed by population growth

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Monday highlighted the significant…

20 hours ago
  • Business

Political stability, long-term economic policies, crucial for economic growth

Acting President of the Islamabad Chamber of Commerce and Industry (ICCI), Abdul Rehman Siddiqui on…

20 hours ago
  • Business

WAPDA chairman inspects work on key sites of Mohmand Dam

Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) on Monday visited Mohmand Dam, a multipurpose…

20 hours ago
  • Business

Gold prices dip by Rs700 per tola

The price of 24 karat per tola gold decreased by Rs.700 and was sold at…

20 hours ago
  • Business

Rupee sheds 6 paisa against dollar

Pakistani rupee on Monday depreciated by 6 paisa against the US dollar in the interbank…

20 hours ago