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A division bench of Sindh High Court (SHC) on Tuesday confirmed the interim pre-arrest bail earlier granted to the former chairman Pakistan Steel Mill (PSM), Usman Farooqui, in PSM corruption case. The bench comprising justices Mushir Alam and Munib Ahmed Khan confirmed the interim bail granted to him against the surety of one million rupees on December 22, 2009.
Nation Accountability Bureau (NAB) has accused the ex PSM chairman in the reference of corruption and causing loss of Rs 17 million to national exchequer in purchase contract of ferrous manganese. As per the reference, the PSM Karachi purchased/procured ferrous manganese (high carbon) at the rate of Rs 21,884.69 per metric ton on October 10, 1994. Later, the PSM purchased the same material on November 16, 1995 at the rate of Rs 48,484.52 per metric ton after the contract was approved by Ministry of Industries and Production.
Counsel of the accused, Raza Hashmi, argued that his client was in jail and was not served notice regarding the institution of corruption case against him. After confinement, he (Farooqui) learnt about the corruption case, which was withdrawn in April 2008 under Section 7 of National Reconciliation Ordinance (NRO) 2007. He submitted that the relief granted under NRO was withdrawn after the Ordinance was declared void ab initio by Supreme Court (SC) of Pakistan on December 16, 2009. He prayed the court to confirm the interim pre-arrest bail granted earlier to his client. The bench after hearing arguments confirmed the interim bail before arrest.

Copyright Business Recorder, 2010

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