Former LWMC managing director arrested for embezzlement
Accused of concealing important details from board members and causing losses of billions
PHOTO: REUTERS
LAHORE:
Lahore National Accountability Bureau (NAB) has arrested former Lahore Waste Management Company (LWMC) Managing Director (MD) Muhammad Waseem Ajmal over charges of embezzling of more than Rs1 billion in LWMC projects.
According to details obtained by The Express Tribune, a contract for preparation of consultancy services was awarded to LWMC by Rawalpindi City District Government which was signed in September 2012.
As per terms of reference of the contract, the consultants were supposed to prepare the rough cost estimates for the bidding purpose.
They also prepared prequalification criteria and bidding documents, including draft agreements, for the outsourcing of Solid Waste Management (SWM) services. The constituted core members of the collective consultancy team, who were associated with preparation of cost estimates and bidding documents included LWMC MD Waseem Ajmal, LWMC CFO Rana Muhammad Arif, LWMC GM Procurement and Contract Col.
(Rtd) Muhammad Tahir and GM legal operations Khalid Majeed.
Reportedly, the former MD Waseem Ajmal held a meeting on April 26, 2014 in which he intentionally concealed important details from other board members of the meeting.
The accused intentionally concealed the fact that the initial cost estimate regarding the project’s labour cost of Albayrak which was already included in the initial cost estimates was reissued during the bidding process.
The act on part of the accused former MD resulted in a loss of billions of rupees to the government exchequer. In this regard, the accused was also found involved in illegal payments of US$96,000 in the name of fake exemptions.
LWMC initiated the tendering process for outsourcing of SWM services in Rawalpindi and Murree in 2012. At the same time, bidders offered exorbitant rates hence procedure of tendering was halted in February 2013. Lately, rebidding was initiated for outsourcing of SWM Services in Rawalpindi and Murree on June 24, 2013.
Lahore NAB earlier arrested five accused persons involved in the misappropriation of funds in said project. Lahore NAB officials will present the accused before the accountability court for physical remand. The ongoing investigations are expected to be completed without any delay.
Published in The Express Tribune, November 20th, 2019.
Lahore National Accountability Bureau (NAB) has arrested former Lahore Waste Management Company (LWMC) Managing Director (MD) Muhammad Waseem Ajmal over charges of embezzling of more than Rs1 billion in LWMC projects.
According to details obtained by The Express Tribune, a contract for preparation of consultancy services was awarded to LWMC by Rawalpindi City District Government which was signed in September 2012.
As per terms of reference of the contract, the consultants were supposed to prepare the rough cost estimates for the bidding purpose.
They also prepared prequalification criteria and bidding documents, including draft agreements, for the outsourcing of Solid Waste Management (SWM) services. The constituted core members of the collective consultancy team, who were associated with preparation of cost estimates and bidding documents included LWMC MD Waseem Ajmal, LWMC CFO Rana Muhammad Arif, LWMC GM Procurement and Contract Col.
(Rtd) Muhammad Tahir and GM legal operations Khalid Majeed.
Reportedly, the former MD Waseem Ajmal held a meeting on April 26, 2014 in which he intentionally concealed important details from other board members of the meeting.
The accused intentionally concealed the fact that the initial cost estimate regarding the project’s labour cost of Albayrak which was already included in the initial cost estimates was reissued during the bidding process.
The act on part of the accused former MD resulted in a loss of billions of rupees to the government exchequer. In this regard, the accused was also found involved in illegal payments of US$96,000 in the name of fake exemptions.
LWMC initiated the tendering process for outsourcing of SWM services in Rawalpindi and Murree in 2012. At the same time, bidders offered exorbitant rates hence procedure of tendering was halted in February 2013. Lately, rebidding was initiated for outsourcing of SWM Services in Rawalpindi and Murree on June 24, 2013.
Lahore NAB earlier arrested five accused persons involved in the misappropriation of funds in said project. Lahore NAB officials will present the accused before the accountability court for physical remand. The ongoing investigations are expected to be completed without any delay.
Published in The Express Tribune, November 20th, 2019.