ISLAMABAD - Public Accounts Committee (PAC) on Thursday hinted to summon NAB Chairman over late recovery of Rs5.7 billion illegally invested by the Privatisation Commission in un-registered banks.

The meeting of the committee took place under the chair of Pakistan Muslim League-Nawaz (PML-N) leader Rana Tanvir.

The chairman said that NAB itself should also be held accountable and their audit should also be conducted which is a responsibility of Auditor General of Pakistan (AGPR).

According to the audit officials, the huge amount was invested in un-register banks without the approval of finance ministry during 2007 to 2012. However, raising the question over the progress of NAB; he said that NAB chairman must be ready for briefing PAC over the matter.

While answering the question raised by the PAC chairman, NAB official said that they had recovered over Rs487 million and rest of Rs137 million to be recovered soon.

The PAC chairman over the progress of NAB in the case said that if they were politicians involved in the case then the situation would have been changed because NAB resolve the case against politicians in short period of time;  The PC officials responded that the politicians were also involved in this case; saying that Senators Waqar Ahmad Khan, Ghaous Bakhsh Mehr, and Naveed Qamar were among the former chairmen of PC.

The audit officials, while briefing the PAC members, said that this investment was made illegally; adding that law prohibited such investments in these un-registered banks. The audit further informed the PAC that such investments were made twice.

When the PAC Chairman Rana Tanvir asked for the details of the privatization, the PC officials replied that five departments had been privatised in last seven years and rest of 18 were in process and six to be privatised in current fiscal year.

During the meeting, there was also a shouting match between the chairman PAC Rana Tanvir and PTI leader and member of the committee Noor Alam Khan.

Exchange of harsh words took place after Noor Alam Khan asked the Rana Tanvir under which criteria he had stopped sending cases to FIA and NAB. He said that it was the mandate of PAC to send cases to FIA and NAB.

The chairman responded that it was not his decision but was made by the all members of PAC.