Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Former chairman Pak Steel caused Rs 22 billion loss by embezzlement: SC told
10-31-2009, 08:05 AM
Post: #1
Former chairman Pak Steel caused Rs 22 billion loss by embezzlement: SC told
ISLAMABAD: A three-member bench of the Supreme Court was informed on Friday that former Pakistan Steel Mills (PSM) chairman Moin Aftab Sheikh and the PSM commercial director were responsible for the Rs 22 billion losses incurred by the steel mill.
The bench, consisting of Chief Justice Iftikhar Muhammad Chaudhry, Justice Jawwad S Khawaja and Justice Ghulam Rabbani, was hearing a suo motu notice taken on reports of embezzlement in the PSM, which lost Rs 22 billion in 2008-09. Appearing on notice, Federal Investigation Agency counsel Muhammad Azam said that according to preliminary investigations, the former PSM chairman and the commercial director were responsible for the losses.
The CJ ordered Moin Aftab’s lawyer, Muhammad Salman, to provide copies of his client’s response to the FIA and the PSM management. Earlier, Aftab’s counsel had said in a reply to the court that the mill’s losses were due to significant differences in local and international market prices and not embezzlement. masood rehman

http://www.dailytimes.com.pk/default.asp...009_pg7_40
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Surge in Domestic Steel Prices Linked to Escalating Raw Material Expenses LRE-Azan 0 126 01-09-2024 03:44 PM
Last Post: LRE-Azan
  Steel Prices Experience a Decline as the Rupee Gains Strength Against the US Dollar LRE-Azan 0 179 12-19-2023 02:32 PM
Last Post: LRE-Azan
  P&D Chairman Highlights Positive Outlook for Punjab's Prosperity Through CBD's Projec LRE-Azan 0 186 12-15-2023 06:21 PM
Last Post: LRE-Azan
  Decline in Steel Prices Continues as Pakistani Rupee Strengthens Against USD LRE-Azan 0 222 10-25-2023 05:23 PM
Last Post: LRE-Azan
  Steel Bar Prices Witness a Significant Drop, Offering Relief to the Construction Sect LRE-Azan 0 203 10-13-2023 07:53 PM
Last Post: LRE-Azan
  Good news: Margalla Avenue to be Completed ‘Very Soon’ – Chairman CDA LRE-Azan 0 781 01-21-2023 01:15 PM
Last Post: LRE-Azan
  The Chairman Federal Board of Intermediate & Secondary Education and the Executive Di LRE-Azan 0 778 11-19-2022 05:13 PM
Last Post: LRE-Azan
  Lahore: Open Court of Voice Chairman LDA LRE-Azan 0 1,271 02-02-2022 07:08 PM
Last Post: LRE-Azan
  Mayor Rawalpindi Sardar Naseem Khan told LRE-Azan 0 1,380 12-15-2021 05:19 PM
Last Post: LRE-Azan
  Islamabad: Open Court Held by Chairman CDA in E-11 LRE-Azan 0 1,187 11-08-2021 08:09 PM
Last Post: LRE-Azan
  CDA chairman inspects work on major avenues in capital Salman 0 4,361 03-10-2014 04:45 PM
Last Post: Salman
  CDA Chairman stresses early completion of Kashmir Highway Salman 0 4,499 02-12-2014 07:48 PM
Last Post: Salman
  CDA chairman inspects work on Kashmir Highway Salman 0 4,384 02-06-2014 12:45 PM
Last Post: Salman
  CDA chairman inspects ongoing expansion work Salman 0 4,021 02-04-2014 01:59 PM
Last Post: Salman
  70 kanals of SSECHS grabbed, Senate told Salman 0 4,455 01-28-2014 04:30 PM
Last Post: Salman
  New CDA Chairman vows to expedite expansion of Kashmir Highway Salman 0 5,608 12-26-2013 05:13 PM
Last Post: Salman
  PWD uplift projects: National Assembly panel concerned at embezzlement Salman 0 7,283 11-28-2013 12:58 PM
Last Post: Salman
  PM orders strict action against responsible behind Kashmir Highway embezzlement Salman 0 5,653 10-28-2013 03:19 PM
Last Post: Salman
  CDA working on mega project to address water needs: chairman Salman 0 6,286 07-18-2013 10:59 AM
Last Post: Salman
  CDA chairman for immediate completion of projects Salman 0 5,067 06-24-2013 11:38 AM
Last Post: Salman

Forum Jump:


User(s) browsing this thread: 1 Guest(s)