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Corrupt elements in EOBI under investigation; SC informed

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ISLAMABAD: The Supreme Court of Pakistan was informed on Wednesday that corrupt elements in the Employees’ Old Age Benefit Institution (EOBI) were under investigation and that the auditor general had been instructed to conduct a special audit.

A three-member bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, heard the suo motu case of the EOBI scam over reports that the institution had caused a loss of Rs 40 billion to the national exchequer by investing huge amounts in private sector projects without approval of its board of trustees (BoT).

During the hearing, the EOBI Chairman Munir Qureshi informed the court that former chairman of EOBI, Zafar Iqbal Gondal, was inducted in the institution on deputation basis just like him.

The EOBI Chairman said that the institution was receiving contributions from 3.4 million registered workers, whereas the institution was paying out Rs 1 billion monthly as pension for 400, 000 workers.

Qureshi said that former chairman had even suspended the pre-audit system, which was now restored.

Irfan Qadir, Defence Housing Authority lawyer, said salaries of its workers could not be prepared due to the freezing of the DHA bank accounts.

Chief Justice Iftikhar asked Qadir as to how much money he had deposited in the court, upon which he replied that 2.6 billion rupees had been submitted so far. He added that Eid was approaching soon and the workers’ salaries would have to be prepared.

The court asked Qadir to submit in writing the request for payment of workers’ salaries and adjourned the hearing till tomorrow.

Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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