Ministry of Industries and Production (MoI&P) has reportedly sent a reference to National Accountability Bureau (NAB) against former and incumbent officials of Pakistan Steel Mills who withdrew Rs 7.51bn from employees' provident fund and gratuity, well informed sources told Business Recorder. "We have sent a three-page reference to NAB with the request to fix responsibility and subsequently take action against the accused," the sources continued.
According to PSM management the note for withdrawal of Rs 3.9bn from Provident Fund Trust was initiated by Abdul Aziz Memon, then Deputy General Manager of cash section (retired) whereas Muhammad Mansoor (late) was the General Manager (Accounts & Finance) at that time. The case was justified and approved by the then Director Finance Sharif Awan and then Chairman Aftab Moin Sheikh. Later Acting Chairman Sameen Asghar also gave approval on October 15, 2008. The members of Board of Trustees were Muhammad Mansoor, Akbar Nabi and Muneer Husssain Chattha.
The note for withdrawal of Rs 3.61bn from the gratuity fund was initiated by Muhammad Mansoor, General Manager (Cost & Accounts). The case was justified and approved by the then Director Finance Sharif Awan and then Chairman Aftab Moin Sheikh except and Acting Chairman Sameen Asghar later approved it on 15 October 2008. The Trustees of the Fund were Saleem Ahmed, Saud Ahmad Khan, SM Husnain Akhtar and Mansoor Hussain. The Ministry maintains that the top most priority is to pay Rs 7.5bn of provident and gratuity funds, adding that an attempt is being mad to clear this amount through sale of PSM land meant for industrial purposes amounting to Rs 10bn. However, insiders are of the view that management has shared incorrect info with the Ministry and Senate body which termed withdrawal of funds as day time dacoity.
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