Jahangir Badar’s son summoned over OGRA money trail

Published: April 29, 2013
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NAB unearthed some suspicious transactions belonging to Badar’s son, Ali Zulifqar Badar on account of the OGRA scandal. PHOTO: INP/FILE

NAB unearthed some suspicious transactions belonging to Badar’s son, Ali Zulifqar Badar on account of the OGRA scandal. PHOTO: INP/FILE

LAHORE: The National Accountability Bureau (NAB) has summoned Pakistan Peoples Party leader Senator Jahangir Badar’s son and two brothers of former Chairman of Oil and Gas Regulatory Authority Tauqir Sadiq, the principal accused in a multi-billion rupee scandal.

NAB has unearthed some suspicious transactions belonging to Badar’s son, Ali Zulifqar Badar on account of the OGRA scandal, official documents available with The Express Tribune revealed. The bureau has also sought complete details including moveable, immovable properties and bank account details from the accused Tanvir Sadiq, Taufeeq Sadiq and Ali Zulfiqar Badar.

In this regard, the NAB Rawalpindi chapter dispatched copies of summons to the Capital City Police Officer Lahore for ensuring the production of Ali Zulifqar Badar, Tanvir Sadiq and Taufeeq Sadiq before the NAB Investigation team on April 30.

Three officials of the Monitoring and Vigilance Department of Securities and Exchange Commission of Pakistan, namely Executive Director Imran Butt, Deputy Director Asif Amin and Assistant Director Tayaba, have recorded their statements and provided record to NAB regarding inside trading and selling and purchasing of shares of Sui Northern Gas Pipeline Ltd and Sui Southern Gas Pipeline Ltd by some influential brokers.

The document reveals that due to some influential brokers with the connivance of then OGRA Chairman Tauqir Sadiq, concerned officials of SECP, NBP and other dignitaries of the outgoing PPP-led government purchased the shares of SNGP, SSGPL from open market at Rs16 to Rs18 per share and later sold these shares to NBP and some state-owned companies at about Rs36 per share, causing a hefty loss to the public exchequer.

These officials said that in this regard an inquiry has also been pending with the securities watchdog and during the preliminary inquiry some allegations have been proved but the SECP could not initiate criminal proceedings against those found guilty because of influence exerted by outgoing SECP chairman Muhammad Ali and SECP Commissioner Imtiaz Haider.

Published in The Express Tribune, April 29th, 2013.

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Reader Comments (7)

  • Apr 29, 2013 - 10:37AM

    Give me the name of any top PPP member/family not involved in ‘hanky-panky. Salams

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  • Snoop Dog
    Apr 29, 2013 - 10:50AM

    Empty exercises by NAB. They are all SOBs.

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  • bilal
    Apr 29, 2013 - 11:42AM

    We will again elect you as our leaders. keep on ripping the fools

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  • Sirf Pakistani
    Apr 29, 2013 - 1:36PM

    @bilal:
    time to change your mindset and at least do the right thing yoruself. you still have 11 days on you.

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  • bilal
    Apr 29, 2013 - 3:19PM

    do you think that we will change our mindset. we have witnessed every worse thing in Pakistan. they actually represents the fools of Pakistan. I wish to see IK in power but do you think that the fools will allow him to come into power.

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  • Pro Bono Publico
    Apr 29, 2013 - 6:54PM

    @the Skunk:
    Tauqir Sadiq, Tanvir Sadiq and Taufeeq Sadiq are in-law relations of Jahangir Badar.

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  • naeem khan Manhattan,Ks
    Apr 29, 2013 - 7:30PM

    @Sirf Pakistani:
    Bilal’s comment is sarcastic and funny. I knew exactly what he meant.

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