Earlier, both the applicant/accused Iftikhar Abrar Ahmed and Zulfiqar Ahmed surrendered before the court.
They were co-accused in a case in which 40 dealers and consumers of PSM were booked on charges of accepting undue benefits in the sale of PSM products at a lower rate than that of the international market.
Shaukat Hayat advocate, appearing for the applicants/accused, submitted that no case of recovery was filed by PSM against his clients.
Instead the PSM had given a certificate of “No Dues” to them, the counsel argued. He also submitted that they were bona fide purchasers and products were sold to them at a price fixed by the PSM. They have paid all taxes, the record of which was provided to the FIA’s investigators, probing the alleged case of undue benefits.
Their applications against alleged harassment are also pending before the Supreme Court of Pakistan, he contended, seeking bail.
The bench, after hearing the initial arguments, admitted them to interim pre-arrest bail till Nov 27 when the prosecution is also on notice.
Published in The Express Tribune, November 16th, 2010.
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