PAC panel refers irregularities in EOBI projects to NAB, FIA

A sub-committee of the Public Accounts Committee (PAC) referred on Tuesday several audit paras pertaining to irregularities of billions of rupees in the Employees Old-Age Benefit Institution (EOBI) to the National Accountability Bureau (NAB and the Federal Investigation Agency (FIA).

The PAC sub-committee met with its convener Riaz Fatyana in the chair. The committee termed the FIA’s investigative process very slow and directed the agency to increase its capacity. The committee summoned FIA director general to its next meeting.

The meeting reviewed the audit paras of the Overseas Pakistanis Ministry for the financial year 2012-13 to 2016-17. The committee settled eight audit paras related to irregularities amounting to Rs716.4 million, while referred the audit paras related to irregularities in EOBI projects to NAB and FIA.

FIA officials informed the meeting that first information reports (FIRs) had been lodged against 18 former management and board officials in the audit paras related to EOBI. They added that one had been arrested, while five were released on bail and efforts were afoot to arrest the remaining accused.

The EOBI chairman informed the committee that all these audit paras were related to four projects, which started during the tenure of former chairman Zafar Iqbal. The committee directed to expedite the process of arbitration on this matter.

The committee was told that EOBI was giving a monthly pension of Rs8,500 to 400,000 retired employees. This pension was given to the widow after the death of the pensioners, and then to the children below 18 years of age after the death of the widow.