Bail Dismissed: Two EOBI heads arrested from court

ISLAMABAD: Two directors general of the Employees Old-Age Benefit Institution (EOBI) were arrested on Friday from the premises of the Islamabad High Court after their pre-arrest bail applications were dismissed. A single bench comprising of Justice Aamer Farooq rejected the applications of the two DGs of the EOBI, Wahid Khursheed Kunwar and Najmus Saqib Siddiqui. Subsequently, the officials of the Federal Investigation Agency (FIA) detained the suspects from IHC premises. The FIA informed the court that the suspects were allegedly involved in illegally increasing the cost of the Overseas Corporation Tower. The officials said that the suspects allegedly increased the cost from Rs600 million to Rs1,539 million, thus causing a huge loss to the national exchequer. Following the arguments on bail pleas, the court dismissed the applications.

Published in The Express Tribune, February 27^th, 2016.