State Life building

NAB chief takes notice of 22-year delay in construction

By Asim Yasin

ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice (R) Javed Iqbal took notice of the misuse of authority, corruption and over 22-year delay in the construction of 22-storey building of the State Life Tower in Islamabad owned by the State Life Insurance Company (SLIC) of Pakistan. The NAB chairman directed to fix responsibility of the delay in construction of the tower in Islamabad and conduct inquiry against reports of corruption and causing losses worth millions of rupees to national kitty.

The NAB chairman directed to ensure correct use of people’s hard-earned money invested in the State Life Insurance Corporation of Pakistan and policy holder’s money should be invested in profitable schemes.

The cost of tower being constructed with the preliminary cost of Rs1.3 billion has increased manifold in 22 years. Despite 22 years, only 19 storeys of State Life Tower in Islamabad have so far been completed and remaining three storeys need more time for completion. The delay of over 22 years is a classic example of ill planning and bad governance.

The NAB chairman has sought reasons behind frequent change of chairman of State Life Insurance Corporation of Pakistan so that the responsible of squandering public money could be identified.