Latest news with #NationalAccountabilityBureau
Express Tribune
5 days ago
- Business
- Express Tribune
RDA scam suspects in the NAB crosshairs
The National Accountability Bureau (NAB) has summoned two retired officials in connection with the Rawalpindi Development Authority (RDA) financial scandal. The summons were issued for Thursday (today) following their nomination as suspects by the RDA administration. The accused include former Director Asif Mehmood Janjua and retired Assistant Director Khawaja Arshad Javed. According to the NAB notice, both individuals are required to explain why they issued instructions to the bank regarding the issuance of Certificates of Deposit (CDRs), despite allegedly lacking the authority to do so. The bureau has asked them to provide a detailed explanation for their actions, submit complete records related to the CDRs, and furnish the names and details of all recipients. The notice further warned that failure to appear or comply would result in legal action in accordance with the law. This development marks a significant step in NAB's investigation into alleged financial irregularities within the RDA. More details emerge of scam Investigations have revealed that large sums of money were transferred to various companies, vendors, and individuals through Call Deposit Receipts (CDRs). These transactions were traced with the help of bank records and a report compiled by RDA's probe committee, which has now been provided to the investigative authorities. The companies and vendors involved in these transactions include MS Addad (Rs393.17million), Car Specialist Network (Rs11 million), Pothohar Associates (Rs74.26 million), SNK & Company (Rs324.46 million), Silver Stone (Rs339.4 million), and Smart Cubed (Rs309.77 million). RDA's investigation is currently comparing these transactions with records from the relevant banks. Meanwhile, a probe committee formed by RDA's Director-General Kanza Murtaza under Director State Management Nasir Shehzad Gondal has issued a report. The committee noted significant negligence and carelessness in RDA's Finance Department and found that the bank involved failed to verify the transactions with authorities before processing them. The committee concluded that the preparation of CDRs was an overstep of authority and illegal. As a result, the committee has recommended that the case be forwarded to the ACE and other relevant agencies to recover RDA funds and further investigate the irregularities.
Business Recorder
7 days ago
- Politics
- Business Recorder
IK urges PTI supporters to get ready for ‘major movement': Aleema
ISLAMABAD: Aleema Khan, the sister of PTI founder Imran Khan has quoted his brother as saying that there is no room in the party for those playing on 'both sides of the wicket'. Talking to media outside the Adiala Jail after the hearing of the Toshakhana-II case against Khan and his wife Buhsra Bibi, she quoted Imran Khan as saying: 'PTI is an ideological movement, not a party for electables.' She said that Imran Khan's message to 'opportunists' within the party was clear: Get in line or else you have no future in PTI. She continued that many young and loyal party workers are languishing in jails yet those who are busy to cash in on the situation must keep in mind that the party is watching them. 'Imran Khan has plainly said that he is well aware of those playing on both sides of the wicket, and must know that their political theatrics will not work in the long run.' To a question about any deal with the establishment, Aleema Khan said Khan dismissed such speculations, saying he will get out of the jail through judicial process. He lambasted the YouTubers and the vloggers for spreading misleading narratives based on presumptions, she said. Aleema further stated that Khan has called on PTI supporters to prepare for a major political movement. 'This time, the movement will not be limited to Islamabad. It will be launched across the country.' Earlier, the special court hearing the Toshakhana-II case against Pakistan Tehreek-e-Insaf (PTI) founding chairman Imran Khan and his wife, Bushra Bibi, adjourned the proceedings after the defence counsel completed the cross-examination of a prosecution witness, till May 31. Special Judge Central Shahrukh Arjumand, presiding over the case at Adiala Jail, adjourned the hearing after the defence lawyer, Qausain Faisal Mufti, completed the cross-examination of prosecution witness, Additional Director National Accountability Bureau (NAB) Qaiser Mehmood. The court adjourned the hearing of the case till May 31 and summoned more witnesses. Copyright Business Recorder, 2025
Business Recorder
24-05-2025
- Business
- Business Recorder
NAB recovers, disburses Rs88bn in Q1
LAHORE: The National Accountability Bureau (NAB) recovered and disbursed over Rs 88 billion during the first quarter of 2025 (January–March). These recoveries included direct recoveries worth Rs 2.085 billion and indirect recoveries amounting to Rs 86 billion, involving public and private lands associated with cases of illegal transfer and occupation. The disbursed amounts were returned to the relevant affected entities. Regarding indirect recoveries, NAB (Balochistan) retrieved state land measuring 340 acres of Chiltan Park and 250 acres of Forest department which translate into Rs 6.45 billion. NAB (KPK) secured Rs 0.56 billion in case titled inquiry against officers/ officials of University of Swabi, Revenue and Forest departments. NAB (Lahore) recovered Rs 70.87 billion in three mega cases including Employees Cooperative Housing Society, State Life Insurance Employees Cooperative Housing Society and Sarwar Omega Villas. NAB (Multan) recovered Rs 0.013 billion in GFS-7 Wonders Housing Scheme, while NAB (Sukkur) recovered 610 acres of NHA land worth of Rs 8.53 billion. NAB recovers, disburses over Rs88bn during 1st quarter of 2025 Regarding disbursement of direct recoveries, NAB transferred Rs 9.72 million directly to the Federal Government, Rs 10.80 million to Provincial Governments and Rs 73.51 million to different department/ financial institutions, etc. Further, a significant portion amounting to Rs 1990.771 million has been directly distributed to 19105 victims of various scams. This includes Rs 72.04 million to 4778 affectees of National House Building and Road Development Corporation by NAB (Rawalpindi), Rs 1168.26 million to 11855 affectees of Eden Housing Case by NAB (Lahore), Rs 405.08 million to 989 affectees of SHG & Others case by NAB (Lahore), Rs 111.08 million to 496 affectees of Arain City case by NAB (Rawalpindi), Rs 109.15 million to 452 affectees of Toyota Motors Gujranwala case by NAB (Lahore), Rs 23.56 million to 246 affectees of Gulshan-e-Rehman case by NAB (Rawalpindi), Rs 12.07 million to 99 affectees of THG case by NAB (Lahore), Rs 47.31 million to 60 affectees of Gilani Housing Corporation by NAB (Rawalpindi), Rs 3.631 million to 78 affectees of Ahmed City Housing Scheme by NAB (Lahore) and Rs 38.59 million to 52 affectees of other various scams. The recoveries made in the first quarter of 2025 has taken the NAB's overall recovery amount since its inception to Rs 6.236 trillion, of which 62.92 % (Rs 3.92 trillion) were recovered in last 18 months. These recoveries were made from individuals and entities through plea bargains, voluntary returns and settlements. This substantial disbursement highlights NAB's commitment not only to holding offenders accountable but also to ensuring swift restitution for the victims of financial fraud. NAB remains resolute in its mission to recover looted public funds and advance its vision of a corruption-free Pakistan. Copyright Business Recorder, 2025
Business Recorder
24-05-2025
- Business
- Business Recorder
NAB recovers, disburses over Rs88bn during 1st quarter of 2025
The National Accountability Bureau (NAB) recovered and disbursed over Rs88 billion during the first quarter of 2025 (January–March), it said in a press release on Saturday. The recoveries included direct recoveries worth Rs2.085 billion and indirect recoveries amounting to Rs86 billion, involving public and private lands associated with cases of illegal transfer and occupation. 'The disbursed amounts were returned to the relevant affected entities,' the statement read. Regarding indirect recoveries, NAB (Balochistan) retrieved state land measuring 340 acres of Chiltan Park and 250 acres of Forest department which translate into Rs6.45 billion, NAB (KPK) secured Rs0.56 billion in case titled inquiry against officers/officials of University of Swabi, Revenue and Forest departments, NAB (Lahore) recovered Rs70.87 billion in three mega cases including Employees Cooperative Housing Society, State Life Insurance Employees Cooperative Housing Society and Sarwar Omega Villas, NAB (Multan) recovered Rs0.013 billion in GFS 7 wonders housing Scheme while NAB(Sukkur) recovered 610 acres of NHA land worth of Rs8.53 billion. Housing scam victims: NAB Lahore disburses Rs1.34bn Regarding disbursement of direct recoveries, NAB transferred Rs9.72 million directly to the federal government, Rs10.80 million to provincial governments and Rs73.51 million to different department/financial institutions, etc. Further, a significant portion amounting to Rs19.90 billion has been directly distributed to 19,105 victims of various scams, according to NAB statement. This includes Rs72.04 million to 4,778 affectees of National House Building and Road Development Corporation by NAB (Rawalpindi), Rs1.168.26 billion to 11,855 affectees of Eden Housing Case by NAB (Lahore), Rs405.08 million to 989 affectees of SHG & Others case by NAB(Lahore), Rs111.08 million to 496 affectees of Arain City case by NAB (Rawalpindi), Rs109.15 million to 452 affectees of Toyota Motors Gujranwala case by NAB (Lahore), Rs23.56 million to 246 affectees of Gulshan-e- Rehman case by NAB (Rawalpindi) Rs12.07 million to 99 affectees of THG case by NAB (Lahore), Rs47.31 million to 60 affectees of Gilani Housing Corporation by NAB (Rawalpindi), Rs. 3.631 million to 78 affectees of Ahmed City Housing Scheme by NAB (Lahore) and Rs38.59 million to 52 affectees of other various scams. 'The recoveries made in the first quarter of 2025 has taken the NAB's overall recovery amount since its inception to Rs6.236 trillion, of which 62.92% (Rs3.92 trillion) were recovered in last 18 months. 'These recoveries were made from individuals and entities through plea bargains, voluntary returns and settlements,' the statement read.
Business Recorder
18-05-2025
- Business
- Business Recorder
Cracking down on collusion — finally
EDITORIAL: It's a wonder that it took authorities this long to acknowledge what had been obvious to the market for years. The signing of a Memorandum of Understanding (MoU) between the National Accountability Bureau (NAB) and the Competition Commission of Pakistan (CCP) to crack down on bid rigging, price fixing, and collusive tendering is, on the surface, a welcome and long-overdue development. The scale of procurement abuse in the public sector has been staggering, draining national resources and distorting market behaviour in ways that have repeatedly punished both taxpayers and honest businesses. That it took so long for key enforcement agencies to formally coordinate efforts against these 'mega crimes against the economy,' as the NAB chief finally termed them, speaks volumes about misplaced priorities and wilful neglect. Still, better late than never. The strategic value of institutional cooperation cannot be understated. Collusion in public procurement tends to fall through the cracks of enforcement when responsibility is scattered across multiple bodies—some criminal, some regulatory – without a unified approach or formal communication channels. The MoU, by outlining a framework for joint investigations, intelligence sharing, and capacity building, creates a much-needed bridge between criminal and civil jurisdictions. It is encouraging that CCP's analytical capacity will now complement NAB's prosecutorial reach, especially in cases where cartel behaviour crosses the threshold from regulatory violation into criminal conspiracy. But let's not get ahead of ourselves. For this to be more than a token gesture, it must break free from the legacy of politicised enforcement that has dogged NAB for decades. Successive governments, regardless of ideological stripes, have used NAB as a tool to harass and cripple political opponents, often while turning a blind eye to corruption within their own ranks. That reputation is well-earned, and it will not be easy to shed. If NAB's new partnership with CCP is to have any credibility, it must be seen to target corruption and collusion across the board, without fear or favour, and most importantly, without political interference. In this regard, the emphasis on data analytics could prove decisive. Unlike politically motivated investigations built on selective leaks and questionable testimony, data doesn't lie. CCP's recent exposure of a bid-rigging cartel among electricity distribution companies demonstrates the power of technology-driven oversight. With advanced analytical tools and procurement datasets such as EPADS now feeding into the enforcement process, it is possible to identify pricing anomalies, coordinated bidding patterns, and market abuse with precision and objectivity. This can help shift the culture of enforcement away from theatrics and towards results – towards a regime where actions are guided not by who the accused is, but by what the data says. It is also worth noting that the MoU includes provisions for reviewing procurement regulations and plugging loopholes that allow collusive practices to flourish in the first place. This is important. Too often, the state reacts to corruption only after the damage is done. A proactive approach that leverages data to reform policy, redesign tender processes, and eliminate perverse incentives could deliver far more sustainable outcomes than prosecutions alone. Still, the institutional limitations of both NAB and CCP cannot be ignored. CCP has often lacked teeth, constrained by limited enforcement powers and bureaucratic inertia. NAB, for its part, is overextended, controversial, and frequently distracted by politically engineered assignments. That is why this new alliance must be closely watched – not just to assess its effectiveness, but also to ensure it does not devolve into another instrument of selective accountability. Ultimately, transparency, accountability, and fairness must be the guiding principles of this new phase in enforcement. The public has heard too many grand promises and seen too little follow-throughs. If NAB and CCP are serious about cleaning up public procurement, they must let data lead the way – and have the institutional discipline to follow it wherever it goes. Copyright Business Recorder, 2025
