NAB asked to probe Rs 26.5 billion PSM losses: Supreme Court issues contempt notice to Malik

While announcing its 57-page verdict in a suo motu case clubbed with identical petitions regarding corruption of Rs 26.5 billion in Pakistan Steel Mills (PSM), the Supreme Court (SC) on Wednesday directed National Accountability Bureau (NAB) to investigate the matter.
The Chairman NAB has been directed to complete investigations into the scam within three months. He will also be required to file a fortnightly progress report in the SC's Registrar office regularly for perusal by judges in their chambers for appropriate orders in the case.
Besides, through its judgement, the SC also issued contempt of court notice to Federal Interior Minister Rehman Malik for constituting a new investigation team to investigate massive corruption in PSM without informing the apex court. Malik has been directed to respond to the court in two weeks.
A three-member bench led by Chief Justice Iftikhar Muhammad Chaudhry ordered the Director General Federal Investigation Authority (FIA) to hand over the entire investigation record relating to the case to the NAB for further investigation.
Earlier, the SC had reserved its judgement in the case on March 15. Federal Secretary Industries Gul Muhammad Rind had failed to take timely action on a forensic audit report (2008-09) that identified cumulative losses of Rs 26.5 billion, that the PSM had suffered in one fiscal year. Rind had apprised the court that after the Ministry would decide to refer the matter to the NAB after the receipt of FIA's investigation report.
Categorically the SC issued directives to the Chairman NAB to probe losses of more than Rs 26 billion in the PSM. He was also asked to recover the looted money. The apex court also issued orders for the arrest of absconders and all those who committed corruption, adding that the judgement stated that the NAB should activate its prosecution branch to seek cancellation of bail of the nominated accused in the case. The judgement, which was authored by Justice Tariq Parvez, stated that the NAB "shall" file references against the persons found involved in the corruption in PSM after it carried out its enquiry under the law of land.