Employees' Old-Age Benefits Institution (EOBI) on Wednesday admitted that the element of criminality has been established in all 18 properties purchased at exorbitant rate for a sum of Rs 34 billion in connivance with the sellers, who overcharged the institution by more than 50 percent. This was revealed in the National Assembly Standing committee on Overseas Pakistanis and Human Resources Development which met with Mir Aamir Ali Khan Magsi in the chair.
The parliamentary panel was informed that following the directives of the Supreme Court of Pakistan, Valuators were appointed who submitted their valuation reports on all the 18 properties that were purchased by the EOBI during the year 2011-12 and 2012-13 and that are currently under a suo motu action. The value determined, when compared with cost paid also makes it clear that many of the 18 properties were purchased at price 50 percent or more higher than the fair market value.
The evaluation reports say that except 3, all properties still could not fetch the price on which these were purchased. The Board of Trustees (BoT) approved to retain only 2 properties out of 18 whose value has appreciated while one more is under scrutiny. The Board has therefore decided to return 15 properties to sellers which also include two properties of one of the Pakistan Tehreek-e-Insaf leader. The recovery of amount paid/losses is therefore a legal matter and a case is still subjudice before the court, officials informed the committee.
The committee while discussing the EOBI scam directed the Employees Old Age Benefit Institution to actively pursue the court cases for early realisation of the money misappropriated on account of purchase of property on exorbitant rates. The committee also directed the Federal Investigation Agency (FIA) to accelerate the pace of investigation on FIRs registered against the accused.
The Chairman EOBI while apprising the committee said the former management of EOBI purchased real estate in different parts of the country at exorbitant rates in connivance with sellers. It was further apprised that the issue was before the Supreme Court and the Attorney General for Pakistan would present himself before the court with the request for early hearing of the case. The Chairman EOBI further informed that most of the accused were under arrest whereas few of them were granted bail.
It was brought into the notice of the committee that FIRs had not yet been registered against sellers of four properties. The committee expressed its displeasure on the issue and directed the EOBI management to take up the registration of FIRs with the FIA against those persons. The committee also directed the Ministry and EOBI to keep it posted about the progress of the case.
The committee referred "The Factories (Amendment) Bill, 2016" moved by Asiya Naaz Tanoli, to the Ministry of Interior for its input since the jurisdiction on labour matters to the extent of Islamabad Capital Territory lies with the Ministry of Interior.
Comments
Comments are closed.