Fahim summoned for investigation in Rs 5 billion mega financial scam
19 March, 2014
KARACHI: FIA has summoned Makhdoom Amin Fahim, central leader of PPP and former commerce minister on March 24 in connection with investigation into Rs 5 billion mega financial scam in Trade Development Authority of Pakistan (TDAP).
FIA while issuing notice to Makhdoom Amin Fahim has directed him to appear before FIA investigation officers on March, 24
FIA Crimes Circle Karachi had started investigations into serious financial irregularities allegedly found to have been committed under freight subsidy head in TDAP during previous government. The volume of embezzlement swelled to billion of rupees as soon as the scope of investigation was extended.
The investigation revealed that not only the owners of fake export companies, brokers and senior officers of TDAP were involved in this scam but also the key political personalities of the previous PPP led government had patronized this financial scandal.
FIA not only arrested owners of fake export companies but also took into custody several senior bureaucrats and two former chairmen of TDAP. Over 65 cases have been registered against the accused for embezzling over Rs 5 billion under the head of freight subsidy in connivance with fake export companies. Money laundering cases have also been instituted against bank officers and front men of key political personalities for transferring money embezzled through corrupt practices to other cities through banking channel and massive foreign exchange to offshore accounts through hundi system..
FIA has now decided to bring to justice the important political figures of former PPP led government who are allegedly found involved in plundering the national kitty.
Through the notice sent under section 160 of criminal procedure, Makhdoom Amin Fahim has been told that amount running into over Rs 5 billion embezzled in freight subsidy scandal was released with the approval of Export Development Fund Committee constituted under his chairmanship.
This amount which was paid to about 65 fake companies was released under the recommendations of the then director ministry of commerce Farhan Ahmad Junejo and later under the recommendations of director Sikandar Shah. Farhan Ahmad Junejo was appointed in ministry of commerce on the special recommendations of Makhdoom Amin Fahim and he received no salary during the period of his appointment.