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NAB Has Arrested 3 Accused in 63 Billion Oil Companies Scandal

Oil companies scandal,NAB, National Accountability Bureau, Pakistan State Oil, General Manager PSO, Byco Pakistan Petroleum Limited, Consumer Business, CEO of Jin Petroleum,

The National Accountability Bureau (NAB) claimed 5 suspects involved in Oil Companies Scandal of 63 billion rupees in Pakistan State Oil (PSO) and private oil companies has arrested from Karachi, Islamabad and Hunza. According to confirmed sources, three suspects arrested from Karachi and were presented in the Accountability Court for the remand, while Senior General Manager and former General Manager PSO will be presented in court after completing the legal proceedings.

Three suspects of Oil Companies Scandal, Former General Manager (Supply) PSOCL’s Akhtar Zameer , Former Chief Operating Officer Kamran Iktikhar Lari of Byco Pakistan Petroleum Limited (BPPL) and Former Chief Executive Officer of BPPL Qaiser Jamal were arrested on 11th July 2018 by National Accountability Bureau (NAB) team. In addition, in the second proceeding, NAB arrested Former General Manager of PSO (Retail, Consumer Business) and CEO of Jin Petroleum, Syed Zulfiqar Ali Jafri, while the former General Manager Marketing Doctor Syed Nazar A. Zaidi was arrested from Hunza Gilgit Baltistan.

According to the NAB, the five suspects of Oil Companies Scandal were wanted in the petroleum sales scandal and PSO also accused in illegal contract with oil companies, which caused damage to the national treasury for billions of rupees. The suspects had given an unlawful contract with BPL to provide Raw oil in 2008-09 for two billion forty three million, while no payment was made in this regard. According to the NAB, the former PSO officials, who were talking about this, approached the privileges of using their illegal power.

This illegal agreement resulted in non-standard products being provided to the PSO, which caused loss of Rs 60 billion to the National Treasury. During the investigations by NAB that PSO management took advantage of the illegal options and made another agreement with BPPL to sell petroleum products. According to the NAB national treasury has suffered a loss of 63 billion 68 million rupees through this oil companies scandal.

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