Four land transactions: MoC, NICL flayed for failure to root out Rs five billion corruption

Ministry of Commerce and National Insurance Company Limited (NICL) were flayed for their failure to root out Rs 5 billion corruption in four land transactions in the meeting of the National Assembly Standing Committee on Commerce on Thursday. The committee, which met with Eng Khurram Dastagir Khan in the chair at the Parliament House, was informed that there was no accountability institution in Ministry of Commerce and NICL to check corruption.
The committee asked that why the matter was put before the Supreme Court and why not concerned officials in ministry and NICL probed it thoroughly. Later talking to reporters, Khurram Dastagir said though the case was in the apex court but the committee wanted update on billion rupees loss to the national exchequer. The committee noted that the Internal Audit has also not pointed out the issue and emphasised that lesson should be learnt from this issue to put the house in order.
On the alleged involvement of PML-Q's MPA Moonis Elahi, the committee observed with the concerns that a manager of Chaudhry Family transferred Rs 220 million to the MPA and sought that the matter be investigated thoroughly, as the money has been used in purchase of 20 kanals land at Airport Road Lahore Cantonment.
The committee also expressed serious concern and desired to look seriously that all of sudden four investments of Rs 1.686 billion, Rs 1.2 billion, Rs 1.6 billion and Rs 981 million were made by the NICL in July 2009. It noted that before this transaction, the NICL have no investment in real estates except two building in Islamabad. The committee asked as why minister for commerce, who was ex-officio member of the BoD in July 2009, Secretary Chaudhry Qamar Zaman and Additional Secretary Shafqat Hussain Naghmi have not pointed out the scandal.
It observed that there was mala fide attention of evaluators while favouritism have been done mainly by the decision makers in the ministry and NICL and also recommended that evaluation should be made carefully. The committee unanimously decided to call Transparency International, FIA, Security and Exchange Commission of Pakistan and concerned additional secretary of ministry of commerce who was member of the BoDs between June to April in 2009.
Some members raised objection over the formation of the BoDs, upon the committee sought file containing constitution of BoDs, directing that their education qualifications of the their members in the Ministry of Commerce should be examined and the committee should be informed that how and on whom directions the BoDs members were proposed and nominated.
The committee also sought to provide details to its members regarding the revenue generated by NICL from Dubai and other projects abroad and also details about the Cansa Bella, Lahore, Karachi at Rs 26.987 million and Islamabad at about Rs 9.3 million. The committee also sought details of NICL plot near Mall Road, HBL, Lahore.
The panel while terming the NICL scandal a serious negligence, advised Ministry of Commerce and NICL to constitute BoDs in the way that no corruption was made in the future and the relevant rules and procedures should be revised after thorough work by the professionals and experts otherwise, the committee warned that it would propose strict and stern action in other words.