Federal Investigation Agency (FIA) on Thursday unveiled a number of shocking facts in the Rs 5.5 billion financial scam in the National Insurance Corporation Limited (NICL) and Secretary Interior, Qamar-uz-Zaman Chaudhry, a signatory to two flawed real estate deals, apologised while pleading innocence.
FIA has declared four members of Board of Directors as proclaimed offenders. These include Chairman, NICL, Ayaz Khan Niazi, Javed Syed, Qasim Dada and Mohsin Habib Warraich, son of accused Habib Ullah Warraich, former Minister for Defence Production. Bank accounts of all the accused have been frozen.
International red warrants are being issued against Mohsin Habib whereas raids will be conducted in Rawalpindi and Islamabad to arrest Ayaz Khan Niazi, as FIA is confident he is still in Pakistan. Senate's standing committee on Commerce which met under the chairmanship of Senator Ilyas Bilour vowed to keep its investigation open until FIA completes its investigation and the plundered amount of Rs 5.5 billion is returned to the national exchequer.
Similar sentiments were expressed by the Director FIA, Punjab, Zafar Qureshi and Director, FIA, Sindh, Moazzam Jah also assured the committee that all the culprits would be booked and looted money will be deposited in the national kitty. All the members of the committee ie Senators Ishaq Dar, Haroon Akhtar Khan, Gul Muhammad Lot and Sameen Siddiqui raised a number of questions to the officiating Chairman NICL, Tariq Iqbal Puri, FIA Directors from Punjab and Sindh.
Secretary Interior, (who was then Additional Secretary Commerce), who reportedly signed two flawed deals including 10 acres land in Korangi (Karachi) and property in Dubai, as Member Board of Directors (BoDs) representing Ministry of Commerce appeared confused when a number of questions were raised by the Senators about his role in the execution of these deals.
Senator Haroon Akhtar asked Secretary Interior how an investigation could be fair when one of the signatories is incharge of FIA. Similar questions were also asked by other members of the committee. Secretary Interior, however, acknowledged that he signed the documents in good faith and claimed he was not aware of any wrongdoing.
"I signed the documents without going into details but I swear I was not aware of any unlawful activity," one of the members quoted Secretary Interior as saying. He was asked how he could prove his innocence when all other signatories were behind bars. After questioning, the committee decided not to proceed further against him.
Director, FIA Punjab, Zafar Qureshi informed the committee that the price of 803 Kanal and 14 Marlas near Ferozepur Road Lahore was Rs 150,000 to Rs 200,000 per Kanal whereas it was purchased at Rs 2.1 million per Kanal. He shocked the committee by stating that payment of Rs 1.68 billion was made to M/s Privileges Farms, a company of Mohsin Habib Warraich whereas land was not transferred to the NICL. He stated that out of the 13 accused nine are in the custody of FIA and Rs 1.14 billion was frozen in Dubai Islamic Bank whereas Rs 44 million was paid to Mohsin Habib.
"We have recovered Rs 120 million in property and pressure is being mounted on Habib Ullah Warraich, Akram Warraich and Mohsin Warraich to return the money," Zafar Qureshi added. According to him, the accused gave four cheques amounting to Rs 550 million to the FIA. Each cheque will be encashed after every 10 days commencing from November 14, 2010.
If all these cheques are enchased Rs 550 million of NICL will be recovered. With regard to 20 Kanal and 4 Marla land near Lahore airport, Director FIA stated that the real price of land was Rs 200 million which was purchased in Rs 1.0653 billion.
He revealed that the whole tendering process of this land was flawed. Replying to a question, he informed the committee that FIA conducted raids in Khanewal at the residence of Ayaz Niazi. He was not present there; however, FIA has taken over 25 acres of land that belonged to Niazi.
"FIA conducted a raid on a rest house in Lahore where Niazi was supposed to be staying, but we recovered only empty bottles of Whiskey," he maintained. At this Senator Ishaq Dar commented that when the government appoints night club manager as Chairman of an institution, such things will be recovered. Director FIA further disclosed that Niazi had purchased a house of Rs 25 million in Lahore from the looted money and transferred it in his mother's name.
The Senators argued that Mr Niazi could not operate alone and certainly some others were with him whose names are being kept secret. Senator Ishaq Dar said that the Commerce Minister must know what is happening under his nose, but he is not attending the meetings.
Director FIA, Sindh, Moazzam, Jah, disclosed that Zonal Chief NICL Lahore was also involved in the deal of Korangi land of 10 acres. He is the brother of one of the shareholders of land owners ie Khawja Akbar Butt. The front man Khalid Anwar Khan is abroad and FIA will arrest him as and when he reaches Karachi. The accounts of all the accused, their family members and kin have been frozen.
According to him, Interpol and Dubai government have been requested to extend co-operation for arrest of the culprits. FIA's office in Oman has been directed to evaluate the worth of Dubai property and submit a report as early as possible.
"We assure the committee that FIA will arrest all the accused and recover the looted money as it belongs to the Pakistani people," Mr Jah concluded. The committee members appreciated FIA officials for their hard work but at the same time they raised eyebrows at its inability to arrest other influentials including absconding Chairman NICL.
An official file regarding land price evaluation notification of Revenue Department Korangi is missing and the man accused, Sajjad Abbasi, allegedly took it with him when he was transferred to another department. "We summoned him, he is confused. At one time he says signatures on the notification are his own but at another he denies that the signature is his," Jah added.
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