Abb Takk News

NAB Chief Orders Investigation into ‘Corruption’ in 56 Punjab Cos

Naeem Mehboob

Islamabad (November 18, 2017): Chairman National Accountability Bureau (NAB) Justice (retd) has ordered investigation  into alleged corruption in 56 public sector companies of Punjab.

As per details, Chairman NAB has taken notice of the reports of alleged corruption in 56 public limited companies of Punjab and alleged illegal hiring in the companies.

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The chairman ordered DG NAB Lahore to conduct an inquiry into the affairs of the reported 56 companies.

The chairman has also directed NAB officials not to hinder operation of any company due to the investigation into the alleged corruption. He further asked the NAB officials to allow the officials of the companies to work until solid evidences of wrong doing or corruption were not obtained.He further asked NAB officials to observe all the requirements of law in their investigation.

It is to be mentioned here that a petition has also been filed in LHC alleging that Rs150 billion have been spent by the provincial government on these companies established on the pretext of ‘good governance.’The petition alleges that the government’s move faced a huge setback as all public sector companies failed to deliver. It claims that the audit of accounts of these companies except one was not carried out by Auditor General of Pakistan.

It further says the companies have not shared their expense details with the Punjab finance department and Securities and Exchange Commission of Pakistan (SECP).

The petition states that these companies never published any annual audit report while their heads have been drawing huge salaries besides other perks and privileges.

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