KARACHI: The City Court, Karachi, judge sent former caretaker minister in Sindh, Iqbal Dawood Pakwala, on two-day physical remand over his alleged involvement in a multibillion scam with the Employees Old Age Benefits Institution (EOBI), Express News reported on Tuesday.
The Court ordered the Federal Investigation Agency (FIA) to investigate further and the report of all the updates would be presented before the court in the next hearing.
The accused, who served as director on EOBI’s investment board, was arrested in Karachi on Monday and was in hospital since then due to his ailing health.
Director General investment Wahid Khursheed Kunwar, Col (retd) Ali Asad Mirza, Mirza’s wife Nighat and daughter Maham were also arrested due to their alleged involvement in the case.
According to the media reports, the EOBI officials made huge investments in housing schemes and purchased vehicles and plots in different cities. These purchases were made without the approval of the institution’s board of directors, thus public money was misused.
On June 29, the chief justice took suo motu notice over a note sent by the court registrar, based on a TV programme aired suggesting that the institution had violated article 9 (security of person) and 24 (protection of property rights) of the Constitution.
Correction: Earlier version of the story spelled Wahid Khursheed Kunwar as Wahid Khursheed Qamar. The error is regretted.
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