Ex-PSM chairman granted pre-arrest bail in graft case

The Sindh High Court granted on Tuesday pre-arrest protective bail to former chairman of the Pakistan Steel Mills in a National Accountability Bureau’s reference pertaining to the purchase of 38,800MT iron ore from an Indian company on exorbitant rates.

Nab has alleged that Moen Aftab and co-accused Samreen Asghar had purchased 38,800MT iron ore from Indian company for the PSM at exorbitant price of S$157/MT even though the price had reduced to $96/MT in the international market, causing a loss of Rs188,160,660 to the national exchequer.

The petitioner’s counsel, Shaukat Hayat, submitted that Aftab had already been granted bail in seven references and wanted to surrender before the trial court in the present Nab reference. He submitted that purchase of iron ore was made in accordance with the agreement and prior to it, four shipments of 133,648MT iron ore were also delivered.

He submitted that the co-accused of the case was also granted protective bail and requested the court to grant it to his client too so that he could surrender before the trial court and face its proceedings.

The court granted pre-arrest protective bail to the petitioner on a surety of Rs500,000 with directed the petitioner to submit his passport. The court also issued notices to the NAB special prosecutor and deputy attorney general for their comments on March 14.