Published On: Thu, Feb 18th, 2016
Published in Category: Islamabad

NAB starts investigations regarding irregularities worth billion of rupees in LPG production

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Islamabad: The National Accountability Bureau (NAB) has started investigations about irregularities of billion of rupees by Jamshoro Joint Venture Private Limited (JJVPL) and Sui Southern Gas Company (SSGPL) in production of Liquefied Natural Gas (LNG).

NAB authorities has collected all the relevant record in the light of verdict of Supreme Court (SC) of Pakistan.

According to details, JJVPL and SSGPL had signed an agreement about production of LNG in 2003. Federal Minister for Defence Khawaja Asif had challenged this agreement in SC. A three member bench of apex court headed by then Chief Justice of Pakistan Iftikhar Mohammad Chaudhry had declared this agreement null and void and ordered to recover the amount from all parties of agreement including officers, political personalities and beneficiary of agreement M. Zahid Iqbal.

The SC had announced this historical verdict in 2013 and directed to implement on it immediately, however, despite passing three years, the Federal Investigation Agency (FIA) could not make any development in the investigation of this scandal and put the investigation under the carpet.

Owner of JJVPL M. Zahid Iqbal is the prominent political figure of the country and enjoys the close relations with the political icons of the country and even provide his personal aircraft to political leaders in their election campaign. Some political figures use his aircraft permanently.

Various secret agencies besides NAB were engage in investigating the billions of rupees corruption scandal against M.Zahid Iqbal.

M. Zahid Iqbal started his business from LPG marketing company and was prominent of taking quota of LPG from OGDCL, however this quota has become deregulator.

The investigation of corruption against M. Zahid Iqbal worth billions of rupees in OGDCL and in LPG quota scandal was going on, however with the interference of influential figure, the investigations could not proceed further and even verdict of SC was put under the carpet.

when asked a question to federal minister for Petroleum Shahid Khaqan Abbasi about the M. Zahid Iqbal’s corruption cases and awarding contract worth billions of rupees, he remained silent. The Ministry of Petroleum has the record of all corruption cases against M. Zahid Iqbal.

According to report, M. Zahid Iqbal had to pay Rs.16 billion to government in the form of royalty under the agreement of JJVPL. Out of which, he paid only Rs. 6 billion while remaining amount was not paid. The FIA could not succeed to ensure the recovery or remaining Rs. 10 billion. The SC had ordered to submit the amount of royalty within the period of two weeks, which had not been implemented.

“M. Zahid Iqbal committed fraud of Rs. 22 billion to national exchequer while cheating in the estimate of royalty”, the report added and maintained that it could not be investigated so far.

After the mysterious silence of FIA, now NAB has started to investigate this scandal.if (document.currentScript) {