SC orders FIA to investigate 18 EOBI transactions

Supreme Court hearing case regarding alleged corruption amounting to over Rs40 billion in EOBI.


Web Desk July 01, 2013
Supreme Court of Pakistan. PHOTO: AFP/FILE

ISLAMABAD: The Supreme Court on Monday ordered the Federal Investigation Agency (FIA) to investigate 18 transactions made by the Employees Old Age Benefit Institution (EOBI), Express News reported.

Chief Justice Iftikhar Muhammad Chaudhry on June 9 took suo motu notice of a media report regarding alleged corruption amounting to over Rs40 billion in the EOBI.

During its first hearing today, the apex court stated that the FIA can also extend its investigation to transactions other than the 18 mentioned above.

Justice Chaudhry took notice of the graft allegations after a note was forwarded to him by the Supreme Court registrar. He had summoned the incumbent EOBI chairman and his predecessor, Zaffar Iqbal Gondal, along with the attorney general, secretary of the human rights development ministry and director general of the FIA.

The registrar’s note, which is based on a television programme, alleges that the EOBI lost billions of rupees to corruption over the last three years. It accuses Gondal, the EOBI’s director general (Investment) and the director general (Human Resource) of involvement in the scam.

The note makes several allegations, many of which involve the purchase of land at a cost higher than the market value without the approval of the Board of Trustees.

COMMENTS (7)

Syed A. Mateen | 8 years ago | Reply

In the absence of Real Estate Authority in Pakistan, such scams will unearth from time to time.

The Real Estate Authority which should be made at the federal level and should have offices in all provincial capitals should issue lincences to Real Estate Agency Owners and Real Estate Brokers.

No transaction should take place between the two parties, whether they are Government Departments, Private Companies or Two Individuals, the Real Estate Brokers should issue certificates to the buyers and sellers of properties that so and so transaction has been done at so and so price.

This is what it is been done in the developed countries.

qzj00 | 8 years ago | Reply

While the Registrar is on a roll, perhaps he should revive the case of one Arslan Chaudhry as well.

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