LAHORE: The National Accountability Bureau (NAB) on Friday decided to take action against Universal Enterprises for causing a Rs37.8 million loss to the national exchequer. A NAB official said the decision was taken during a meeting at the bureau’s headquarters. The Federal Government Employees’ Housing Foundation had collaborated with Universal Enterprises to develop a housing scheme for government officials. NAB officials said the foundation had inked an agreement with Universal to purchase 2,000 kanals at Raiwind Road. They said the figure had been reduced to 1,000 kanals later. An official said the foundation had paid a Rs37.8 million advance but Universal had failed to provide the foundation with the land.
Published in The Express Tribune, September 27th, 2014.
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