PHOTO: EOBI
ISLAMABAD:
A district and sessions court on Tuesday extended physical remand of two former directors-general (DG) of the Employees Old-Age Benefit Institution (EOBI) for three days in a corruption case.
Senior Civil Judge Abdul Ghafoor Kakar granted extension in remand after the Federal Investigation Agency (FIA) produced the suspects before the court after expiry of their previous remand.
Former officials of the EOBI were arrested on February 26 from the Islamabad High Court premises after their pre-arrest bail applications were dismissed.
A single bench comprising Justice Aamer Farooq rejected the applications of former DG investment and former DG finance of the EOBI, Wahid Khursheed Kunwar and Najmus Saqib Siddiqui, respectively. Subsequently, the officials of the 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 from Rs600 million to Rs1,539 million and caused a huge loss to the national exchequer.
Published in The Express Tribune, March 2nd, 2016.
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