Pakistan

NAB recovered Rs263b since formation, SC told

Roughly 70% of the amount repossessed from loan defaulters

Hasnaat Malik July 17, 2015

Roughly 70% of the amount repossessed from loan defaulters. PHOTO: National Accountability Bureau

ISLAMABAD: The National Accountability Bureau (NAB) has recovered Rs263 billion since its formation in 2000, the corruption watchdog told the top court on Thursday.

Some Rs181 billion of the amount has been repossessed from loan defaulters, it said in its report submitted in compliance with a Supreme Court order. “Out of the Rs181 billion, Rs169 billion – which is 93 per cent of the total recovery – was recovered during the first four years after the formation of NAB [the period from 2000 till the end of 2003],” it added.

According to the report, NAB recovered Rs19.046 billion as voluntary returns, Rs10.712 billion as part of plea bargains, Rs181.367 billion on account of bank default, restructuring or rescheduling of loans, Rs15.95 billion in the case of Punjab Cooperative Liquidation Board, Rs29.24 billion as court fines and Rs7.372 billion as indirect recoveries.

Meanwhile, the two-judge bench comprising justices Jawwad S Khawaja and Dost Muhammad directed the centre and Punjab government to submit a report on the construction of Dadocha Dam. The hearing was adjourned till July 23.

Published in The Express Tribune, July 17^th, 2015.

COMMENTS (1)

ishrat salim | 9 years ago | Reply First, where is the balance Rs 82 billion ( Rs 263 billion recovered out of which Rs 181 has been repossessed - what does this mean ? ). Then NAB claims that Rs 169 billion = 93% recovered between 2000 - 2006 ( where is Rs 12 billion ), that is during Gen M period. So, that means Gen M period was better than the last 7 years of democracy. That means these political parties come to power after snatching peoples vote only to loot & plunder without effective accountability. So, which system is better ?

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