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NAB rounds up CE of FP in NIPD corruption case

NAB rounds up CE of FP in NIPD corruption case

LAHORE: National Accountability Bureau (NAB) Lahore showed another breakthrough in National Industrial Parks Development (NIPD) corruption case and rounded up accused Faisal Shamim, Chief Executive of Furniture Pakistan (FP) over allegations of purchasing several kanals of Land in Sargodha amounting to Rs 5 Million only over much higher rates worth Rs 70.4 Million and caused a huge loss to national kitty.

According to further details, an investigation is underway in NAB Lahore against former CEO, Khalid Mehmood Chadda of Pakistan Industrial Development Corporation (PIDC) and Faisal Shamim CEO Furniture Pakistan and others for illegally procuring land in Sargodha by allegedly misusing their authority and by obtaining illegal pecuniary benefits through dishonest and illegitimate means which is congnizable under NAB Law.

Being CEO of Furniture Pakistan and member of Monitoring Committee, the accused, Faisal Shamim, purchased the land in violaton of PPRA Rules, terms and conditions specially designed for Tender Advertisement, whereas, the accused also signed the bids, as well, as the comparative statements. Moreover, the land was purchased by ignoring the lowest bidder.

The accused Faisal Shamim purchased the land in connivance with other co-accused Khalid Mehmood Chadda from Muhammad Ashraf who was not even the owner of sold land, in to the bargain, the property (land) was under charge of mortgage against defaulted loan of a Private Bank.

NAB Lahore has already arrested former CEO, Khalid Mehmood Chadda (PIDC) and accomplice Muhammad Zubair after collecting significant evidences of embezzlement and gratifications for making a loss of Rs 103.25 Million collectively to national exchequer.

Investigation officials of NAB Lahore has acquired the Physical Remand of said accused Faisal Shamim till 11th of January 2018 by producing him before an Accountability Court.