NAB recovered Rs263b since formation, SC told
Roughly 70% of the amount repossessed from loan defaulters
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 17th, 2015.
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 17th, 2015.