In a surprise move, the Senate standing committee has called Interior Secretary Qamar-uz-Zaman and Federal Investigation (FIA) Director General Waseem Ahmad on Thursday in the Rs 5 billion scam of National Insurance Corporation of Pakistan (NICL).
Officiating NILC Chairman Tariq Iqbal Puri confirmed to the committee on Wednesday that Interior Secretary Qamar uz-Zaman had signed on two NICL suspect real estate deals as Additional Secretary, Commerce. In two of the property deals, Commerce Ministry was represented by the Additional Secretary.
All committee members Ilyas Balour (Chairman), Haroon Akhtar, Ishaq Dar, Sameen Siddiqui, Ghulam Ali, Abdul Raziq and Gulshan Saeed vowed to bring back NICL chairman Ayaz Niazi to the country, like Hamesh Khan, principal accused in the Punjab Bank scandal.
The committee members quoted media reports which indicated that Niazi has fled from the country. However, Senator Safdar Abbasi, who came late in the meeting, did not offer comments. When the issue of NICL came under discussion, Haroon and his colleagues pointed out that Commerce Ministry would provide required documents, necessary to reach informed conclusions. The entire real estate purchase deals of NICL are 'seemingly flawed', Haroon said, as advertisements were published in little known and read newspapers.
"There are lots of unanswered questions. We asked where the money has gone. We sought details of accounts of sellers, property was purchased five times more than the market price; FIA is investigating only Ferozpure Road Lahore property," he added. He said no one knows the real owner of Koranji's property as cheques were delivered to third power of attorney holder. In the previous meeting the committee had directed Commerce Ministry and NICL to put the names of sellers on Exist Control List (ECL) besides freezing their accounts, but nothing has been done so far. According to Haroon, big fish including NICL Chairman are still at large. Only low level officials are behind bars and are being questioned, and the committee is not being given any respect. He said that the government is taking action on the orders of Supreme Court, instead of Senate committee's recommendations.
"A few Directors were arrested, though the real culprits are being spared," he added. Sameen said that the price of Korangi's property is about Rs 2.5 million to Rs 3 million per acre which was purchased at Rs 90 million per acre. Abdul Raziq offered that better situated land in Karachi at half the price NICL paid for 10 acres land.
Dar said that he submitted his report in June last and directed the NICL Chairman to rent it out and submit copies of cheques but till today no progress has been reported to the committee. "I have doubts about the information provided to us with regard to property purchases," Dar said, adding that the committee's investigation would also help the Supreme Court.
Bilour said that the officials of Commerce Ministry and NICL have continuously made misstatements. Responding to the queries of Senators, Commerce Secretary Zafar Mahmood said that he had already given general instructions to all the attached departments not to buy any property without bringing it to the notice of the Ministry. He said that he was the complainant against the NICL deals, which include all properties. He assured the committee that he would bring details of the inquiry of all properties purchased by the NICL, as FIA is taking a holistic approach to the scam. "I assure the honourable committee members that I will leave no stone unturned in undertaking the NICL deal inquiry," Zafar added.
Tariq Iqbal Puri told the committee that NICL has provided all relevant records to the FIA. The committee also reviewed the performance and responsibilities of Trade Development Authority of Pakistan (TDAP) and directed the Chief Executive Officer to provide details of consultants hired by the Authority abroad.
Officiating NILC Chairman Tariq Iqbal Puri confirmed to the committee on Wednesday that Interior Secretary Qamar uz-Zaman had signed on two NICL suspect real estate deals as Additional Secretary, Commerce. In two of the property deals, Commerce Ministry was represented by the Additional Secretary.
All committee members Ilyas Balour (Chairman), Haroon Akhtar, Ishaq Dar, Sameen Siddiqui, Ghulam Ali, Abdul Raziq and Gulshan Saeed vowed to bring back NICL chairman Ayaz Niazi to the country, like Hamesh Khan, principal accused in the Punjab Bank scandal.
The committee members quoted media reports which indicated that Niazi has fled from the country. However, Senator Safdar Abbasi, who came late in the meeting, did not offer comments. When the issue of NICL came under discussion, Haroon and his colleagues pointed out that Commerce Ministry would provide required documents, necessary to reach informed conclusions. The entire real estate purchase deals of NICL are 'seemingly flawed', Haroon said, as advertisements were published in little known and read newspapers.
"There are lots of unanswered questions. We asked where the money has gone. We sought details of accounts of sellers, property was purchased five times more than the market price; FIA is investigating only Ferozpure Road Lahore property," he added. He said no one knows the real owner of Koranji's property as cheques were delivered to third power of attorney holder. In the previous meeting the committee had directed Commerce Ministry and NICL to put the names of sellers on Exist Control List (ECL) besides freezing their accounts, but nothing has been done so far. According to Haroon, big fish including NICL Chairman are still at large. Only low level officials are behind bars and are being questioned, and the committee is not being given any respect. He said that the government is taking action on the orders of Supreme Court, instead of Senate committee's recommendations.
"A few Directors were arrested, though the real culprits are being spared," he added. Sameen said that the price of Korangi's property is about Rs 2.5 million to Rs 3 million per acre which was purchased at Rs 90 million per acre. Abdul Raziq offered that better situated land in Karachi at half the price NICL paid for 10 acres land.
Dar said that he submitted his report in June last and directed the NICL Chairman to rent it out and submit copies of cheques but till today no progress has been reported to the committee. "I have doubts about the information provided to us with regard to property purchases," Dar said, adding that the committee's investigation would also help the Supreme Court.
Bilour said that the officials of Commerce Ministry and NICL have continuously made misstatements. Responding to the queries of Senators, Commerce Secretary Zafar Mahmood said that he had already given general instructions to all the attached departments not to buy any property without bringing it to the notice of the Ministry. He said that he was the complainant against the NICL deals, which include all properties. He assured the committee that he would bring details of the inquiry of all properties purchased by the NICL, as FIA is taking a holistic approach to the scam. "I assure the honourable committee members that I will leave no stone unturned in undertaking the NICL deal inquiry," Zafar added.
Tariq Iqbal Puri told the committee that NICL has provided all relevant records to the FIA. The committee also reviewed the performance and responsibilities of Trade Development Authority of Pakistan (TDAP) and directed the Chief Executive Officer to provide details of consultants hired by the Authority abroad.
No comments:
Post a Comment