Pakistan

NICL scam: Senate body summons FIA for progress report

FIA receives letter of appreciation from NICL for recovery of full amount.

Express January 13, 2011

LAHORE: Senate Standing Committee on Commerce has sought records from the Federal Investigation Agency (FIA) in the National Insurance Company Limited (NICL) scam involving misappropriation of 5.36 billion rupees in five cases.

Two of these cases are under the purview of FIA Punjab while three are being handled by FIA Sindh. A meeting to discuss this will be held on January 14 in Islamabad, The Express Tribune has learnt.

According to the minutes of the meeting, presided over by Senator Ilyas Ahmad Bilour, the committee secretary has asked the directors of FIA Punjab and Sindh as well as members of the investigation teams to appear in person and present a report regarding progress in the NICL scam’s probe. They are also required to update the committee on the recoveries made so far.

Federal Commerce Minister Makhdoom Amin Fahim and 12 other senators will attend the meeting tomorrow (Thursday) and notices have been issued to Amin and the directors FIA Punjab and Sindh.

NICL authorities had informed FIA Punjab Director Zafar Ahmad Qureshi that the entire liable amount relating to the two registered cases in Punjab had been transferred into the NICL account. Qureshi, as well as other members of the investigation team, received a letter of appreciation from the management of NICL on recovering the entire amount of 2.75 billion rupees in Punjab.

Qureshi told The Express Tribune that he had issued directions to the investigators for preparing a progress report regarding the NICL scam for the January 14 meeting.

Published in The Express Tribune, January 13^th, 2011.

COMMENTS (3)

Adnan Khan | 13 years ago | Reply Hello all, If you look at it from another angle, you might be able to realise that the honourable senators are worried about the alleged involvement of M and other political cousins/heirs of our political elite. They might be requesting the FIA director to come up with some out of box idea which can save everyone without loosing a single penny. All the manoeuvres in Sindh are inter related to this scam. The slogan is "We all are in the same boat" or " I scratch your back and you scratch mine"

SAMAIR | 13 years ago | Reply Maybe the committee can ask why none of the accused employees in NICL have been fired? and why the FIA has still not apprehended two of the Directors of NICL this is correct any FIA should arrest all the accused and NICL must be sacked the accused involved in NICL sam

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