SC orders fresh probe into Rs22bn PSM scam
26 June, 2010
ISLAMABAD: The Supreme Court (SC) on Friday rejected the FIA report pertaining to the alleged corruption of Rs22 billion in the Pakistan Steel Mills (PSM) and ordered fresh investigation into the mega corruption in the state-owned entity.
A three-member bench of the apex court, comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday, was hearing a suo moto case regarding the corruption of Rs22 billion in the PSM.
During the course of hearing, Chief Justice Iftikhar Muhammad Chaudhry in his observation said looters and plunders of the national exchequer would not be spared at any cost and the law would take its course.
The FIA director legal submitted a report of the Authority. But the court expressed dissatisfaction over it and directed its director general to take personal interest in the recovery of money embezzled in the Steel Mills.
The chief justice observed that the embezzlement of Rs22 billion was not a small thing. “None would be spared if the whole recovery was not made,” the CJ added.Deputy Attorney General Abid Saqi while appearing before the court submitted that they have arrested some people and seized their property. Justice Khalil-ur-Rehman Ramday remarked that arresting small people is not a solution.
Barrister Zafarullah, who had earlier requested the court for becoming a party to the case, also appeared before the court. He submitted that there was a loss of Rs39 billion in the PSM as reported by the auditor general of Pakistan in its eight months report.
The learned counsel further contended that had the report covered the whole year 2007-08, the fraud might have reached Rs70 billion.Barrister Zafarullah requested the court to club the defamation cases filed by Riaz Laljee against the Jang Group with the PSM case so that the said group be given an opportunity to give its stance before the court as well.
The learned counsel contended that Riaz Laljee while filing defamation suits against the Jang Group and others wanted to pressurize the media for not unveiling the truth before the masses about his frauds and corruption.
“The defamation suits filed by Riaz Laljee against the Jang Group was in fact a threat to the media for not exposing his fraud and corruption,” Barrister Zafarullah added.It is pertinent to mention here that Riaz Laljee and his company, Abbas Steel, has filed seven libel and defamation cases in the High Court of Sindh against the Jang Group of Newspapers, including Daily Jang, The News and Geo TV, demanding a total of Rs10 billion in damage.
The journalists who have been served with notices in these cases by Laljee include Kamran Khan, Shaheen Sehbai, Talat Aslam and Anjum Niaz besides producers and owners of the Jang Group.
The director legal, FIA submitted that the Authority has recovered Rs17 million so far. At this the CJ observed that only paltry amount has been recovered so far. He directed that the FIA should take personal interest in the recovery of the looted money.
“Ultimately responsibility is with the DG,” the CJ said and directed the DG FIA to initiate fresh investigation into the huge scam of the PSM and submit a report before the court in three weeks. The court adjourned the hearing for date in office.
The Supreme Court had taken suo moto notice of the case on an article published in the media regarding corruption of Rs22 billion in the Pakistan Steel Mills. It was said in the article that the government still does not know the exact losses, as there are varied figures. It’s the PSM management which estimated the losses at Rs22 billion. However, the estimate given in the special report of the auditor general gives a lower figure of Rs9 billion.
Courtesy: The News
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