Dr Hafeez Shaikh on NAB radar

The National Accountability Bureau (NAB) is all set to file a reference against the former finance minister Dr Abdul Hafeez Shaikh and some key officials of the Federal Board of Revenue (FBR) over “misuse of authority” that caused a loss to the tune of $11.125 million to the exchequer.

According to a statement issued on Monday, NAB Karachi chapter has recommended to the NAB headquarters to file a reference against the former finance minister, two former FBR chairmen – Abdullah Yousuf and Salman Siddique – and others.

“Accused Dr Abdul Hafeez Shaikh, Ex-Minister of Finance, Abdullah Yousaf, Ex-Chairman FBR, Salman Siddique, Ex-Chairman FBR and others are involved in misuse of authority thereby causing loss to the Government Exchequer to the tune of US$ 11.125 million,” it read.

The decision was taken at a regional board meeting held at NAB Karachi on July 8.

Dr Shaikh had first served as the country’s finance minister during the PPP rule from 2010 to 2013.

His second stint as the finance minister of the incumbent PTI government was a brief one, spanning from December 11, 2020 to March 29, 2021, when he was unceremoniously sacked and replaced by Shaukat Tarin, who had interestingly also served as the PPP’s finance minister from 2008 till 2010.

Apparently the case that NAB has opened against Dr Shaikh and the FBR officials belongs to the PPP era.

It was reported that PM Imran had removed Shaikh due to spiraling inflation and differences over the International Monetary Fund (IMF) programme, particularly on recommending sweeping governor-centric powers to the central bank, the State Bank of Pakistan.

Interestingly, before being elevated as the finance minister in December 2020, Dr Shaikh had served as the adviser to the PM on finance for 21 months.

The PTI government had even nominated him as a senator from the Islamabad seat but the opposition parties’ joint candidate, former prime minister Yousuf Raza Gillani, pulled off a victory against him in the Senate elections on March 3. Dr Shaikh, however, suddenly fell from favor and was sacked on March 29.

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Other inquiries
According to the NAB official statement, the regional board discussed and decided several inquiries, investigations and various other operational matters and recommended two cases for filing of references to NAB chairman.

“Apart from authorizing filing a reference against Shaikh and others, the board recommended filing of reference to competent authority against officers and officials of the Land Utilization Department, Board of Revenue and others.”

NAB said Land Utilization Department former member Ghulam Mustafa Phul,  former deputy commissioner/EDO Asif Memon  and others were involved in misuse of authority in illegal allotment of precious government land at very nominal rates.

“Thereby [they caused] loss to the exchequer to the tune of millions of rupees.”

The board also accepted a plea bargain application of an accused, Nazeer Ahmed, for Rs1.083 million in investigation against officers and officials of the revenue department, Thana Bola Khan, District Jamshoro and others and sent it for approval of Hyderabad’s accountability court.

“A reference in the instant matter is already filed and is under trial at the accountability court on the allegations of misuse of authority and fake and fabricated revenue record of government land.”

The board also authorized an inquiry against Karachi District West former deputy commissioner Fiaz Solangi and others. The accused was allegedly involved in various corruption and corrupt practices.

The board also authorized inquiry against the management of M/s Black Stone Developers and others on the complaints of more than 100 people.

The accused persons were allegedly involved in cheating the public at large by not handing over plots to the allottees of the project – the Petal Avenue Housing Project, Scheme-33, Gulistan-e-Johar, Karachi.

The regional board appreciated the performance of the combined investigation teams on successful disposal of mega cases. NAB Karachi Director General Dr Najaf Quli Mirza reiterated the resolve to recover the looted money to national exchequer and retrieve the state land.