KARACHI: The Sindh High Court has directed the National Accountability Bureau (NAB) to submit a report on filing of a reference against a former managing director of the Pakistan Petroleum Limited and others in a case pertaining to the sale and purchase of a plot worth Rs1.2 billion by an estate broker, the AKD Real Estate, and the Pakistan Petroleum Limited.
The anti-graft agency accused them of violating the Public Procurement Rules. Khalid Rehman, who is also named as a co-accused in a multi-billion corruption reference against former federal minister Dr Asim Hussain, and others had moved the court for obtaining pre-arrest bail and against the NAB’s inquiry pertaining to the purchase of land for a corporate office of the PPL in violation of the procurement rules and in collusion with an estate broker and the AKD Real Estate.
The anti-corruption agency conducted an inquiry into the purchase of the 6,928 square-yards plot at a prime location of the city on a complaint that the real estate entered into an agreement with regard to purchase of the plot situated at Civil Lines Quarters with mala fide intention and illegal gains. It was alleged that the deal was made at Rs175,000 per square yard with a total consideration of Rs1,212,442,000 whereas at that time the official rate of the said property was Rs34,500 per square yard, while the market rate was from Rs100,000 to Rs125,000.
