The Supreme Court on Tuesday grilled the Federal Investigation Agency (FIA) chief for delaying the arrest of Ayaz Niazi, former chairman of the National Insurance Company Limited (NICL) allegedly involved in over a billion rupee scam.
A three-member bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, was hearing a suo motu case involving violation of rules by the NICL in the procurement of land which caused over a billion rupees loss to the national exchequer.
Addressing FIA’s Director-General Waseem Ahmad, Justice Chaudhry said that a delay in Niazi’s arrest would give an impression that he is an influential person.
The FIA chief informed the bench that Interpol has issued red warrants for Mohsin Warraich, another accused in the NICL scandal who has fled abroad. On this, Justice Chaudhry expressed his displeasure, saying that despite the red warrants, Mohsin has not yet been arrested.
Ahmad also informed the bench that 10 people have been taken into custody for their involvement in the scam. And efforts were being made to arrest Niazi whose property has been confiscated.
Later the court adjourned the hearing for three weeks and directed the FIA that former state minister for defence production Habibullah Warraich, who is in FIA’s custody, should be given the right to seek bail from the court. His son, Mohsin Warraich, absconded after allegedly depositing millions of rupees in the bank account of his spouse, Mehwish Warraich.
The NICL authorities had hired two survey firms to evaluate a piece of land measuring one kanal along a roadside in Toor Warraich village. One firm – Medallion Services – valued the plot at Rs2.35 million while the other – SA Associates – valued it at Rs 2.25 million.
Though the NICL authorities had sought the assessment of just one kanal plot, it purchased 803 kanals and 19 marlas at the same rate, causing a loss of more than Rs1 billion to the national exchequer.
The NICL authorities had called officials of the survey firms to inquire about the assessment of the land as compared to the existing market rates, but the authorities could not take any action against them.
The chief justice took a suo motu notice of the scam and directed the authorities to initiate proceedings against the culprits.
Published in The Express Tribune, November 17th, 2010.
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