Public Accounts Committee Summons NAB DG Rawalpindi In FEB&GI Embezzlement Case

Public Accounts Committee (PAC) Chairman Rana Tanvir Hussain Thursday summoned National Accountability Bureau (NAB) director general to brief the committee on alleged embezzlement of Rs3 billion in the Federal Employees Benevolent Fund and Group Insurance

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Feb, 2020 ) :Public Accounts Committee (PAC) Chairman Rana Tanvir Hussain Thursday summoned National Accountability Bureau (NAB) director general to brief the committee on alleged embezzlement of Rs3 billion in the Federal Employees Benevolent Fund and Group Insurance.

The audit officials informed the committee that the management of FEB&GI invested funds of approximately Rs22 billion in various schemes and out of this money, Rs3 billion were invested in non-governmental shares and TFCs which was irregular and unauthorized.

Rs1.2 billion were loss due to unauthorized investment in private schemes therefore the matter was referred to National Accountability Bureau (NAB) to conduct an inquiry into the matter.

The PAC chairman said this case was sent to NAB in 2012 and since than there was no progress.

What was NAB doing in this mega corruption case since last eight years? asked member Ayaz Sadiq adding why all the entire investment was made in only one private company.

Representative of NAB informed the committee that the case was now at final stages and soon the committee would be informed about the progress.

Who was investigating this case? PAC chairman asked.

To this, he was informed that NAB Director General Rawalpindi Irfan Mangi was dealing with the case.

The committee unanimously decided to summon NAB Director General Rawalpindi Irfan Mangi to explain to the committee as why the matter was being delayed.