NAB obtains Asif Hashmi’s remand

LAHORE: National Accountability Bureau (NAB), Lahore, Tuesday took custody of former chairman of Evacuee Trust Property Board (ETPB), Asif Akhtar Hashmi and obtained his physical remand from the Accountability Court until April 4.

According to a NAB spokesman, the investigations into various cases of ETPB, the involvement of accused Asif Hashmi in corruption and corrupt practices as being the head of department as well as the Chairman of Investment Committee was emerged.

He said the accused misused his authority and bypassed all the defined prerequisites for investment with any company orother private entity by approving illegal investment worth Rs1.870 billion with M/s High Links (Pvt) Limited.

Furthermore, he said, the accused chaired all the investment committee meetings held during 2009-12 in which hefty amount was approved for investment illegally which had caused a huge loss to the national exchequer.

The accused intentionally kept the ministry concerned in dark and misappropriated millions and by misusing his authority, the accused selected M/s High Links for investment in order to extend undue financial gratifications to the same under alleged connivance of co-accused ones without any regard to law. The spokesman said NAB Lahore has already arrested former vice-chairman and former secretary ETPB along with other accused persons in the same case of misappropriation.