ISLAMABAD: The Supreme Court of Pakistan (SC) has announced the verdict in a suo moto case regarding an alleged corruption of Rs 26 billion in the Pakistan Steel Mills (PSM) Wednesday, Geo News reported.
The verdict was announced by Justice Tariq Pervaiz.
While announcing the judgement, the court expressed complete dissatisfaction over the investigations conducted by the Federal Investigation Agency (FIA) and ordered to transfer the case to the National Accountability Bureau (NAB).
The apex court ordered the NAB chief to carry out investigations under his supervision and to conclude the case in three months. The SC also ordered to cancel the bail of accused in the case.
During the verdict, the SC issued contempt of court notice to Interior Minister Rehman Malik on constituting a new investigating team in PSM corruption case without court’s consent.
The court has directed him to respond in two weeks.
On March 15, a three-member bench, headed by Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry, reserved judgement in this regard.
In the last hearing, the SC had ordered Industries Secretary Gul Muhammad Rind to come up with an explanation about why had his ministry failed in taking timely action on a forensic audit report (2008-09) that identified cumulative losses of Rs 26.5 billion suffered by the PSM in one year. Rind told the bench that after receiving the FIA’s report they would decide about sending it to the NAB.
The CJP said that the audit report had proved massive corruption in the PSM, adding that the case could only be send to NAB, which would take action against those responsible and recover the plundered money.
He said, “It was your responsibility to send the cases to NAB. To establish good governance is the duty of the government.”
The court reserved its judgement after the Ministry of Production secretary said they had not yet decided to refer the case to NAB.