Dubious appointment on NIT high slot under way

KARACHI: Former senior director of brokerage house AKD Group Imtiaz Haider is allegedly being appointed to the National Investment Trust (NIT) on a senior position without following departmental formalities. 

The position was never advertised to follow a fair and competitive process in contravention of the Supreme Court of Pakistan ruling that all the such positions be filled after following a transparent process through advertisement. 

Notably, no such position is available with the NIT and a special post is being created to accommodate this person. Haider, who has also been commissioner, Security and Exchange Commission of Pakistan (SECP), had not been given extension because of allegations of his alleged involvement in a multi-billion-rupee Oil and Gas Regulatory Authority (OGRA) scandal investigated by the National Accountability Bureau (NAB). The NAB had then questioned Haider and then SECP chairman Muhammad Ali for their alleged role in the Ogra scam, as both had been working for companies owned by a stock market broker involved in the same scandal. Although both had denied their role in the scam, but then NAB spokesman Ramazan Sajid had confirmed officially that the SECP officials remained under investigation.

Haider was also removed from the Institute of Business Administration (IBA) Bahawalpur on corruption charges. He worked for the AKD Group as well. 

An NIT officer told The News the backdoor induction of Haider might be indicative of a big financial scam being planned to benefit a big name who is behind his appointment. “If people of such reputation are blatantly appointed to high positions in national institutions, this will not only hurt the reputation of the sitting government but will also bring a bad name to Pakistan. The people at the helm of affairs must interfere to stop this planned destruction of a national institution,” the officer said. 

Another surprising point is that he does not have any experience of working for mutual funds at a senior level. Even the NIT Board of Directors is being misguided by the management to achieve nefarious designs.

It is pertinent to mention here that at a time when NIT Managing Director Shahid Ghaffar is keeping Haider’s appointment process secretive, a constitutional petition has also been filed against his appointment. The petition            No 5444/2014 – has been filed by social worker Rana Faizullah against the government of Pakistan, Ministry of Finance, NIT MD Shahid Ghaffar and NIT Chairman Malik Naeem Iqbal. The case is being heard by the Sindh High Court. 

This reporter tried his best to get the version of Imtiaz Haider on his cell phone and then sent him a detailed text message, but he didn’t respond. Besides, a detailed email was sent to the NIT official address to get the organization’s point of view regarding the probable appointment of Haider in the light of the SHC petition, but no response was received from there as well.