Summary NAB joins action against Punjab companies
LAHORE (Dunya News) – National Accountability Bureau (NAB) has raided the Lahore Waste Management Company’s office in Shaheen Complex in the wake of Punjab companies scandal and seized the service record of LWMC’s Managing Director.
NAB team also took other important record in custody from MD Hassan Bhatti and Planning General Manager Nusrat Gul.
NAB had earlier demanded LWMC’s MD’s record from Secretary for local bodies but due to non-complaince, NAB team seized it during the raid.
Director General of National Accountability Bureau is himself to monitor the illegal matters that LWMC is involved in.
Lahore NAB has also acquired the details of development projects and ongoing work at Lakhodair landfill site and Mehmood Booti dumping site.
It is pertinent here to mention that Dunya News Investigation Wing, on October-20 this year, had unearthed mammoth irregularities worth over Rs80 bn in financial matters of 56 companies formed by Punjab government.
As per details garnered, Punjab govt had constituted 56 companies under guise of good governance and registered them under Article-42 of Companies Ordinance 1984. Punjab Chief Minister Shehbaz Sharif was inspired by the Turkish model and therefore summoned analysts from the same.
While deliberately turning a blind eye towards similar local companies operating in Pakistan, Sharif-led Punjab govt awarded dozens of contracts to Turkish conglomerates on hefty paybacks.
Before formation of these companies, 113970 employees were working in different departments across Punjab and the figure augmented to 157500 following arrival of Turkish corporations.
Rules were either disregarded or revoked while contracts were given on basis of sheer nepotism, thus inflicting hefty losses on provincial exchequer as Shehbaz Sharif issued mammoth Rs150 bn funds in this regard. Earlier, only six companies were formed but the amount soared to 56 in years to come.
