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Saturday, June 25, 2011

NAB found involved in financial irregularities

ISLAMABAD: NAB (National Accountability Bureau) which is an apex institution of the country for curbing menace of corruption has been found involved in sheer financial irregularities.

Sources told it was disclosed in the Auditor General of Pakistan (AGP) Report presented in the parliament with respect to NAB related matters that Saifur Rehman who was NAB chairman during Nawaz Sharif regime hired the services of foreign firms through embassies to bring back in the country the money stashed in off shore accounts of Asif Ali Zardari and Benazir Bhutto. The accounts of these firms were also opened in Union Bank of Switzerland and United National Bank London and payment to them were made from 1997 to 2008.
As per report payment over 136 million rupees was made to foreign law firms in the case of Benazir Bhutto versus Pakistan. A sum of Rs 22.7 million was paid to foreign firms in Manwals group case. This group was involved in foreign vehicles import scandal and this payment was made to bring back the money of this group deposited in foreign banks accounts besides execution of agreements in connection with assets.
Payments of Rs over 130 million were made to 3 foreign law firms and NAB had refused to provide record with respect to this amount to Auditor General.
Sources told Online that Auditor General was of the view that no proper system was in place to monitor the performance of these firms. Payments were made on plain paper claims and no record was provided containing details of what benefit was achieved by the government by hiring the services of these firms. The copies of the agreements reached with these three firms were also not produced to audit.
NAB said that the then chairman had hired the services of lawyers, advisors, consultants and experts in connection with cases running in foreign countries. As the nature of these cases was very sensitive therefore, the services of firms were hired without tenders. However all the cases were withdrawn following the promulgation of National Reconciliation Ordinance.
When contacted by Online the then prosecutor Shahzad Akbar told that the services of these three firms were hired for London, Geneva and Spain and the then chairman of National Accountability Cell Saifur Rehman had selected these firms through embassies. Online