close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Lahore NAB recovers Rs75b in three years

Peshawar

May 5, 2021

ISLAMABAD: The National Accountability Bureau, Lahore, recovered Rs75 billion from 2017 to-date of which Rs14.4 billion were recovered directly and Rs66.6 billion indirectly from the accused.

While in 17 years from 1999 to 2016, the Lahore Bureau had recovered Rs41.7 billion, including Rs17.7 billion directly and indirect recovery of Rs 23 billion. An important meeting of NAB was held at the headquarters under the chairmanship of Chairman Justice Javed Iqbal to review the overall performance of NAB Lahore. Director General, Lahore Bureau, briefed him on the comparative figures of last four years from 2017 to-date and the comparison of recovery from 1999 to 2016 and after this till to-date.

The forum was informed about the last four years direct and indirect recovery from 56 companies of Punjab, housing societies, current status of companies scam and details of convictions by accountability courts. The DG Lahore said the bureau has recovered Rs75 billion from 2017 to-date of which Rs14.4 billion were recovered directly and Rs66.6 billion were recovered from the corrupt indirectly.

The bureau filed four references against the Lahore Parking Company (LPC), Punjab Power Development Company ( PPDC) case and Punjab Saf Pani Company case (PSPC). Right now, the investigations against seven companies are in last stages. The cases of 16 companies have been sent to the NAB headquarters for further action. Besides, 33 inquiries have been closed or referred to other institutions for further action. One inquiry was sent to the Anti-Corruption Establishment (ACE) and two inquiries were merged with the ongoing inquiries.

Major recoveries from 56 companies scam included Rs1 billion recovered from Ikram Naveed in Punjab Power Development Company (PPDC) whereas Rs80 million were recovered in Lahore Parking Company case through plea bargain. A major development was the grant of ownership rights to 500 vehicles and heavy machinery, valued at 4 to 5 billion, used for Lahore's cleanliness from two international firms in the Lahore Waste Management Company ( LWMC) case.

From 1999 to 2016, the Lahore Bureau paid compensation to 8,500 affectees, including compensation paid to 1,629 affectees in 2014, to 1,401 in 2015 and 2,524 victims compensated in 2016. Also 1,763 victims were compensated indirectly. And during the tenure of current chairman, Lahore Bureau, 58,790 victims were paid compensation. Of which, 14,200 were paid Rs5.60 billion direct cash or pay order. Some 21,628 victims were given houses, plots and flats as indirect recovery, while 22,962 victims got relief through references in accountability courts.

The DG NAB Lahore said the bureau had also recovered Rs3.49 billion from Double Shah who collected money from people by promising attractive returns, of which Rs2.40 billion has been returned to victims.

The Chairman NAB, Justice (retd) Javed Iqbal, lauded the achievements of DG Lahore and reiterated his pledge to eradicate corruption from the country. He said recovering Rs487 billion from the corrupt and depositing it into the national exchequer were important achievements of the bureau, and various national and international organisations have praised NAB’s outstanding performance.