FIA Arrest 2 EOBI Director Generals in a Scam Worth Rs939m

Written by  Published by:Pakistan Views Saturday, 27 February 2016 13:27

ISLAMABAD: Federal Investigation Agency (FIA) arrested two directors general of the Employees Old-age Benefit Institutions (EOBI) after the Islamabad High Court (IHC) rejected their bail petitions on Friday.

Wahid Khurshid and Najamul Saqib, both directors of the EOBI, are facing charges of unlawfully increasing cost of the project of Overseas Employment Corporation Tower (OECT).

As per the initial plan approved in 2011, OECT has to be constructed at a cost of Rs600 million on a plot at G-9/4.

The project was funded by the EOBI under an agreement reached between two organizations of the Ministry of Human Resource Development.

FIA alleged that Khurshid and Saqib increased the project cost from Rs600 million to Rs1539 million in an unlawful manner and without following due process.

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