File photo of the NICL logo. PHOTO: FILE
KARACHI: The court directed the counsels for suspects in the National Insurance Company Limited (NICL) corruption reference to submit their arguments. A two-member bench heard the bail pleas filed on behalf of former NICL Chairperson Ayaz Khan Niazi and others.
The counsels informed the court that the National Accountability Bureau (NAB) had not yet identified any irregularity or corruption and that the anti-graft body had not even explained the extent of loss caused to the national exchequer. The counsels requested the court to allow bails for the suspects and assured that they were ready to cooperate.
The court directed the remaining counsels to present their arguments and adjourned the hearing till October 23. According to NAB, the suspects were involved in selling 10 acres of NICL land in Korangi at remarkably low prices, causing millions of rupees of loss to the government.
Published in The Express Tribune, October 16th, 2018.
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