KARACHI: National Accountability Bureau (NAB) has arrested a former director of University of Arts Science and Technology over fund embezzlement.
According to spokesperson, the NAB Karachi has arrested Naeem Akhtar, former Director P&D Federal Urdu University of Arts Science and Technology. “He was wanted in the investigation being conducted against the management of the said university on the charges of embezzlement of funds of university under various heads,” he added.
The accused is alleged of illegally awarding the contract for provision of security services for the campus university by illegally extending favour to M/s Sardar Security Services Pvt Ltd, bypassing the relevant rules of tender process. The illegal act on his part resulted in loss of Rs82 million to the national exchequer. The arrested accused has made disclosure of his active connivance with other members of the university management, who would be included in the investigation. The arrested accused will be presented before the Accountability Court at Karachi on Wednesday for physical remand.
