22-year delay in construction of State Life Tower classic example of bad governance: NAB

ISLAMABAD: Chairman, National Accountability Bureau (NAB), Justice (Retd) Javed Iqbal on Monday took notice of 22-year delay in construction of State Life Tower in Capital and ordered inquiry in to the matter.

He directed the Bureau to probe alleged reports of corruption, misuse of authority and loss of multi million rupees to national exchequer.

In a statement issued here, he directed to fix responsibility of delay in construction of 22-story building owned by State Life Insurance Company of Pakistan.

The cost of tower being constructed with preliminary cost of Rs 1.3 billion has been increased manifold in 22 years. Despite passage of 22 years, only 19 stories of State Life Tower in Islamabad have so far been completed and remaining three stories need more time for completion.

The delay of over 22 years is classic example of ill planning and bad governance.

The Chairman sought reasons behind frequent change of Chairman of State Life Insurance Corporation of Pakistan so that the responsible of squandering public money could be identified and further course of action will be taken as per law.