ISLAMABAD - The National Accountability Bureau on Saturday informed the Supreme Court that Pakistan Petroleum Limited through fictitious evaluation report acquired the assets of a UK-based company on exorbitant rates causing a loss of millions of dollars to the government exchequer.
“The inquiry established that during the period 2011-12, the PPL through fictitious evaluation report conducted by the Financial Advisor of M/s KASB, acquired assets of MND E&P UK at USD 180 million. However, the actual worth of the assets was not more than USD 56 to 60 million,” NAB in its progress report stated.
It added that this fact is further supplemented by M/s RPS Energy Austria Evaluation Report conducted during the year 2015-16 and Forensic Investigation Report conducted by M/s Deloitte UK.
The report is submitted in compliance with the top court’s order on a petition of former employee of Oil and Gas Development Company Limited (OGDCL) Najam Kamal Haider.
According to petitioner, the public sector Exploration and Production (E&P) companies including, OGDCL and PPL were set up with the taxpayers’ money to explore, find and produce oil and gas. The criteria to judge their performance should be based on this objective.
The petitioner requested the top court that all the misdemeanours, malpractice be referred to NAB and all directors of the PPL held accountable.
On September 25, the top court had directed the NAB to file the particulars of all pending inquiries and investigations pertaining to the matter.
NAB’s progress report submitted by Additional Director Coordination Operations Division Shakil Anjum Nagra further stated that the inquiry was completed wherein criminal role of six accused persons, including the role of beneficiary accused of Czech Republic, was identified and forwarded to NAB Headquarters for conversion of inquiry into investigation.
The report stated that a complaint was also received from the Chairman PPL on which an inquiry was authorised by the ex-Chairman NAB on September 19 of 2017.
Thereafter, on the similar allegations, another complaint dated January 29 of 2018 under Section 41B of the Security and Exchange Commission of Pakistan (SECP) Act 1997 was also received from Acting Chairman SECP. Therefore, another inquiry dated May 26 of 2018 was authorized by the present Chairman NAB and later this inquiry was merged with previous on-going inquiry.
In response to SECP application, it is submitted that an investigation against officers of PSO, M/s Byco and PPL is under process. Draft Reference and Investigation Report have been sent to NAB Headquarters for approval of Reference after fulfilling legal and codal formalities.
The NAB in its progress report also submitted details of different matters of Ministry of Petroleum & Natural Resource (MPNR), Pakistan State Oil (PSO) as well as Oil & Gas Regulatory Authority (OGRA) and OGDCL pending with the accountability watchdog at different stages.
A total of 15 matters are pending with the NAB wherein 8 matters relate to MPNR, 4 matters relate to OGDCL and 3 matters relate to OGRA.
Indiscriminate Misuse of Public Money by Appointing Officers in PSO having Exorbitant Salaries and other Perks and Privileges of Rs1.5 million per month or more is in inquiry stage.
Two separate inquiries are underway against officers of MPNR, Ministry of Finance, PSO, PPL and acquisition of shares of MND Exploration & Production Limited.
Investigation against officers of PSO and others regarding misuse of authority by PSO management in signing sale/purchase agreement with M/s Byco Oil Pakistan has been completed and filing of Reference is under process.
Investigation against a private person Amir Chishti, ex-MDs PSO Irfan Khalil and Naeem Yahya Mir and ex-GM Retail Zulfiqar Ali Jaffari is at final stage. Inquiry against officers of MPNR to probe the aspect of any financial corruption in grant and revocation of non performing E&P Licence is also underway while procurement of petroleum by PSO is at investigation stage.
CV against Mari Petroleum Company Limited (MPCL) regarding dismantling of Mari Gas Wellherd price agreement in the year 2005-06 through issuance of bonus shares to govt against interest of Government of Pakistan under NAO 1999 is at complaint verification stage.
Similarly, inquiry is underway against the officers of OGDCL for Illegal Awar and Extension of Contract for Directional and Performance Drilling Services and other. The matter regarding chemical used by OGDCL, mishandling of Jhalmagsi Plant and misuse of CSR Fund and Vehicles is in process of complaint verification.
The report further stated that a matter against Prime Minister, Minister for Petroleum, concerned secretary, management of Sui Southern Gas Company (SSGC), Inter State Gas System (ISGS) M/s Elengy Terminal Pakistan Ltd (ETPL) is also in inquiry stage. The report stated that reference has been filed on the investigation against ex-minister Petroleum Dr Asim Hussain and officials of OGDCL and SSGCL has been filed.
Alleged illegal issuance of CNG licences by officials of OGRA and others is in inquiry stage. Appointment of Member Gas OGRA Amir Naseem, which is declared by Auditor General of Pakistan as per Audit Report 2016-17, is in stage of complaint verification. The inquiry is also underway against alleged corruption and corrupt practices by Chairman OGRA Ahmed Khan, Senior Executive Noorul Haq.