PPDC ex-official arrested for Rs 232m corruption

Lahore: An important development has been made in Punjab Power Development Company (PPDC) case by NAB, Lahore, as former Chief Finance Officer Ikram Naveed has been arrested for Rs 232 million corruption.

According to NAB, accused Ikram was given the responsibility to observe the financial matters of PPDC but he made bogus payments and misused his powers. According to NAB, illegal actions of the accused caused a loss of Rs 232 million to the national exchequer. NAB said Messer Kalmak Consultancy was a fake firm which exisited merely on paper.

NAB said Ikram had transferred the money to the accounts of his relatives and made many properties for them in their names through fraud. NAB also said a solid evidence had been found against the accused Ikram Naveed and he was arrested for further investigation.