LAHORE: National Accountability Bureau (NAB) has Chief Executive Officer of Pakistan Industrial Development Corporation (PIDC) Khalid Mehmood Chadda and his alleged accomplice Zubair on charges of corruption and making a loss of Rs 11.25 million to government exchequer by illegally selling and procuring a piece of land measuring 800 kanals at exorbitant rates in Sargodha.
According to a NAB spokesman, the accused Khalid Mahmood Chadda being chairman of both the Committees Monitoring, Audit and Finance, purchased the land in violation of PPRA Rules from co-accused Zubair. Khalid Chadda signed the bids of the above-mentioned favoured person at the rates of Rs 1.325 million/acre by ignoring the lowest bidder of Rs 0.7 million/acre.
On the other hand, he said, value of the land was Rs 0.2 million/acre according to the valuation table for that time but CEO Khalid Mahmood approved purchase at the rate of Rs 1.325 million/acre and caused a loss of Rs 112.5 million to national exchequer.
