ISLAMABAD: Business community is the backbone of the country’s economy and help country in attaining the goals of development and prosperity, said Justice (Retd) Javed Iqbal, Chairman, National Accountability Bureau (NAB) here on Wednesday.
Justice (Retd) Javed Iqbal while chairing a meeting of the Executive Board of the bureau, asserted that Business community must remind that their role in the country growth is very important. He said bringing the mega-corruption cases to their logical end is NAB’s top priority as the overall conviction rate for corruption cases has been recorded at 70 per cent.
The meeting of the Executive Board of NAB gave approval to close inquiries against former foreign minister Hina Rabbani Khar, former MNA Mian Imtiaz and MNA Chaudhry Muhammad Munir.
Addressing the Executive Board meeting, Chairman NAB said that the national institution believes in reaching the logical conclusion while staying within the purview of the law. In the last 23 months, 610 corruption references were filed in the accountability courts while Rs71 billion was recovered from corrupt elements and deposited in the national exchequer, he added.
The World Economic Forum’s report has appreciated NAB’s awareness and policy of prevention of corruption, Chairman NAB, Justice (Retd) Javed Iqbal said, adding that the general public has a valid problem and the NAB will point out illegal housing societies and the corruption in these societies.
According to a statement issued after the meeting, the anti-graft watchdog approved closure of the inquiry against former chairman National Insurance Company Limited (NICL) Ayaz Khan Niazi. The NAB approved five other corruption inquiries. The meeting also approved the initiation of an inquiry against former District Nazim Bhakkar.
is worth mentioning here that the AC on Monday has reserved verdict on acquittal pleas of former Railway Minister Khawaja Saad Rafique and ex-Punjab Health Minister Khawaja Salman Rafique till October 16 in Paragon Housing Society reference.
During the proceedings, the court has directed to present the accused in next hearing.
On September 3, accountability court had indicted Pakistan Muslim League-Nawaz (PML-N) leader and Member of the National Assembly (MNA) Khawaja Saad Rafique and his brother Salman Rafique in the Paragon Housing Society case.
The Khawaja brothers have been accused of embezzling nearly Rs2 billion.
In all previous hearings, their defense counsel had repeatedly maintained before the court that the details of banking transactions of the last ten years had been handed over to the National Accountability Bureau (NAB).
On April 26, the NAB Lahore had approved filing of a reference against the Khawaja brothers and Nadeem Zia for the alleged corruption.
Qaiser Amin Butt, the director of Paragon Housing Society, was also included in the inquiry initiated by the NAB, and he was also arrested in November last year. Later, he agreed to turn approver against the Khawaja brothers and Zia.
Butt and Zia established a company “Air Avenue” in the year 2003; however the name was later changed to Paragon City private (Pvt) Limited.
On December 11, 2018, Khawaja brothers were detained by the accountability watchdog after the Lahore High Court (LHC) rejected their bail plea.
The NAB had launched an investigation into the alleged scam in November last year after a number of victims staged protests and held a press conference at the Lahore Press Club against what they termed the housing society’s fraud.
With input INP
Read more: Paragon Housing case: NAB court reserves verdict on Khawaja brothers’ acquittal pleas
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