Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Business

Shahid Shafiq remanded to NAB custody

byCT Report
27/02/2018
in Business
Share on FacebookShare on Twitter

LAHORE: An accountability court on Monday handed over accused Shahid Shafiq, Chief executive of Bismillah Engineering Services, to National Accountability Bureau (NAB) on physical remand till March 5 in Ashiana-i-Iqbal Housing scam.

Earlier, the accused was presented amid strict security before Accountability Court Judge Syed Najam-ul-Hassan on expiry of his one-day physical remand.

You might also like

Pakistan’s exports rise 7.7 percent to $8.5 billion in 1QFY-2027

30/10/2026

Wheat, flour prices expected to decline after imported wheat arrives

29/10/2026

The NAB prosecutor requested the court to grant 15 days physical remand of the accused for collection of evidence and carrying out investigations in accordance with law.

However, a defence lawyer opposed the request stating that the accused was allegedly tortured. He requested the court to issue directions for medical examination of the accused.

He further requested the court to adjourn the matter for one-day as the senior defence counsel was not available today for arguing the matter due to his engagements in Karachi.

To which, the NAB prosecutor argued that the bureau had medical facilities and requested for physical remand of the accused.

The court after hearing arguments of both parties remanded the accused into NAB custody on physical remand till March 5. The court directed NAB officials to produce him again on expiry of the remand term.

The NAB had arrested the accused on charges of presenting fake documents, obtaining constructive possession of Ashiana-i-Iqbal project without financial close and willfully failing to complete the project, causing a loss to the government.

Shahid in connivance with LDA officers/officials presented fake documents of joint venture/consortium comprising three firms – Bismillah Engineering Services Co, M/s Sparco Construction Company and M/s China First Metallurgical Group Co Ltd — and eventually obtained a contract of Rs 14 billion illegally being owner of C4 category company, which was not eligible to get a contract worth more than Rs 150 million.

Related Stories

Pakistan’s exports rise 7.7 percent to $8.5 billion in 1QFY-2027

byCT Report
30/10/2026

ISLAMABAD: Pakistan’s remittances reached $10.9 billion in the first quarter of fiscal year 2026-27, marking a 14 percentage increase year-on-year,...

Wheat, flour prices expected to decline after imported wheat arrives

byCT Report
29/10/2026

KARACHI: A ship carrying 51,000 tonnes of imported wheat has arrived at Karachi Port, raising hopes of a decline in...

Pakistan to host global mining investors at PMIF26 on November 12–13

byCT Report
28/10/2026

ISLAMABAD: Pakistan will host its flagship minerals investment forum on November 12–13 in Islamabad, bringing together global mining leaders, investors...

Geopolitical instability poses major threat to businesses and global economy: survey

byCT Report
27/10/2026

ISLAMABAD: Geopolitical tensions, rising energy prices and persistent inflation are emerging as major threats to global economic growth and business...

Next Post

Shabana assumes charge as Commissioner-IR (HRM) after promotion

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.