Initiate inquiry against 56 public limited companies operating in Punjab

Chairman National Accountability Bureau (NAB) Justice (retired) Javed Iqbal Saturday directed the Director General NAB Punjab to initiate an inquiry into on multiple charges against 56 public limited companies operating in the province .
The decision was taken after the Bureau received complaints against these public limited companies for not conducing their regular performance audit, alleged involvement in corrupt practices, injudicious use of resources, induction of blue-eyed people in violation of merit and rules and regulations.
The Chairman NAB also asked for conducting inquiry into he procedural violations in procurement and tendering process, violation of PPRA rules in projects execution and delay in the completion of the projects within the stipulated time frame.
However, the NAB chief clarified that during the investigation process, the working of the said companies must not be affected until the Bureau received sufficient evidences against these firms.
He also directed the director general to ensure adherence to all legal formalities while conducting the inquiry against these public limited companies.

Source: APP