ISLAMABAD - Expressing serious concerns over the investigation, the Senate sub committee on Finance and Economic Affairs on Wednesday directed the National Accountability Bureau to present final report within two weeks period regarding embezzlement of Rs 950 million in Natover Lease and Refinancing Company (NLRC) case.
The Senate sub Committee on Finance and Economic Affairs, which has met under the chair of its convenor Senator Haroon Akhtar Khan, has shown serious reservation over the NAB investigation in non return of deposited amount and payment of monthly profit by a leasing company namely "Natover Lease and Refinancing Company Ltd" case. The Committee hold NAB responsible for lethargy in the recovery of Rs950 million from Natover Lease and Refinancing Company (NLRC).
The Committee has directed the NAB officials to complete investigation in two weeks and present report on March 8. Convenor of the committee Senator Haroon Akhtar Khan in his remarks has said that NAB has failed in investigating the matter and to recover the money. He further asked the NAB officials to identify where the embezzled money has gone and why the assets of Nadeem Sheikh the then CEO are not frozen so far.
Senator Haji Adeel, who is mover of the committee, said that if NAB could arrest Prime Minister and the Chief Minister then why it failed to do anything against the culprits. The Committee was informed that NLRC has to return Rs 700 million to the 1,600 affectees while 54 bank accounts of the company has been traced out which are frozen.
NAB Director Toheed-ul-Hassan has informed the committee that after the Finance sub-committee instruction, the Chairman NAB has ordered the Director General (DG) NAB Khyber Pakhtunkhwa to reinitiate investigation regarding embezzled money of the company. He informed the Committee that after receiving eight complaints of irregularities against the embezzled money, they initiated the process on May 15, 2009 at Headquarter Level but after one year it had shifted to Khyber Pakhtunkhwa which was later halted because of stay order in the Sindh High Court.
NAB Director Gohar Ali Shah informed the committee that embezzled money has been transferred to NIPL and they were investigating its transaction. He informed that some names in this regard have already been put on Exit Control List (ECL).