Court extends physical remand of key accused in Kohistan scandal
The court was informed that the accused, Ayub Khan, is involved in suspicious bank transactions and has also been found in possession of illegal assets. NAB revealed that the accused has submitted a plea bargain request, which is currently under review.
Deputy Prosecutor General Muhammad Ali told the court that further interrogation of the accused is necessary. He added that the investigation into the Kohistan scandal, a scam worth Rs40 billion, is ongoing. NAB is working to identify all those involved, the extent of corruption, and recover stolen assets. For this purpose, the extension in remand was deemed essential.
Granting NAB's request, the court extended the physical remand of the accused for another two days.
According to NAB, the Kohistan scandal involves Rs40 billion, with eight suspects arrested so far. NAB has recovered Rs25 billion in the form of luxury vehicles, lavish bungalows, and apartments. In addition, a significant amount of cash has been frozen. Several individuals, including newly elected Senator Azam Swati, are currently out on protective bail.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
7 hours ago
- Express Tribune
Consumers pay bitter price for sweetener
In the digital age, there's no excuse for opacity as a transparent digital dashboard that tracks sugar from mills to wholesalers to retailers would make it harder for hoarders and profiteers to operate undetected. Photo: file Due to a lack of government attention, sugar prices have skyrocketed across the country, with an increase of up to Rs60 per kilogram at the retail level. Experts believe that the artificial sugar shortage is a direct result of inaccurate data and flawed decisions by federal institutions concerning sugar production and consumption. In the midst of this crisis, sugar profiteers have become active once again, manipulating prices in major markets across Lahore. The government's weak control has allowed profiteers to exploit the public, which is forced to buy sugar at inflated rates. In 2024, sugar was selling at Rs140 to Rs145 per kilo, but it is now being sold for Rs190 to Rs200 per kilo. The official DC rate remains at Rs145, but no retailer is selling at this price. Retailers argue that they themselves are getting sugar at higher prices. According to Sheikh Tanveer, the price of a 100kg sugar sack was Rs12,000 last year, but due to poor planning, it has now soared to Rs18,000 at the ex-mill rate. "Retailers make little profit, while the real beneficiaries are mill owners and sugar profiteers," said Tanveer. Even though the government claims to maintain complete records of sugar production and consumption, a crisis occurs every year. Citizens claim that due to poor government policies, they are forced to spend their hard-earned money buying sugar at inflated rates. This time, the price hike is not minimal, adding up to Rs40 per kilo. One citizen demanded that the Prime Minister take notice and act against those responsible. "But nothing ever happens in this country," he added. "Inflation robs us in broad daylight. It is the government's responsibility to control prices, yet no department seems to be doing anything," lamented the local. Sources have revealed that the same profiteers, who were previously targeted by the Federal Investigation Agency (FIA) with full force, including arrests and record seizures, are once again operating in an organized manner, as they dominate future sugar pricing, especially in markets like Lahore's Akbari Mandi and Karachi's Jodia Bazaar. The FIA had previously launched a strong crackdown, but suddenly and without explanation, the operation was called off. It is unclear whether this was due to the influence of powerful profiteers or fear within the government, but sources claim officials made personal gains during the process. Till date, not a single sugar profiteer has been brought under the law. According to the Pakistan Sugar Mills Association, the country produced 6.8 million tonnes of sugar during 20242025, which was 3 per cent more than the previous year. There was already a surplus of 7 million tonnes last year, prompting the government to allow exports. Despite sufficient availability, hoarders are now creating an artificial shortage once again, pushing sugar prices up to Rs200 per kilo. Currently, Federal Board of Revenue (FBR) representatives have been deployed at sugar mills to prevent tax evasion. According to the FBR, this has improved tax recovery. Additionally, joint raids by the FBR and Intelligence Bureau are being conducted against hoarders across the country to stabilize prices. While there was no price hike during Ramadan, sugar prices have surged once again across the country. However, beyond targeting hoarders, no action has been taken against the profiteers responsible for driving up prices. Meanwhile, the Ministry of Food is preparing to spend valuable foreign exchange on sugar imports. Tendering has already begun, though the next sugarcane crushing season is scheduled to start in November. In this entire scenario, billions of rupees are being drained from the pockets of the poor, while neither the government nor the bureaucracy seems affected.
Business Recorder
a day ago
- Business Recorder
First major arrest made under AMLA: Probe ordered into ‘Future Vision' scam: DG NAB
LAHORE In pursuance of the public welfare-oriented vision of Chairman NAB, the National Accountability Bureau, Lahore convened mega open court chaired by Director General NAB Lahore, Ghulam Safdar Shah. The event was marked by the substantial participation of victims from various high-profile corruption scandals, reflecting public confidence in NAB's redressal mechanisms. Victims of Future Vision scam, Bahria Cuisines scam, Omega Housing scandal, New Lahore City, Pak-Arab Housing Society, Khayaban-e-Amin Housing Society, Eden Garden, and Professional Cooperative Housing Society earnestly approached the forum to present their grievances by seeking institutional support and intervention for their redressal. While addressing the open court, DG NAB Lahore, Ghulam Safdar Shah reaffirmed the Bureau's unwavering commitment to safeguarding public interest and upholding the principles of transparency, accountability, and justice. He stated that NAB Lahore has executed its first major arrest under the Anti-Money Laundering Act (AMLA), marking a pivotal milestone in the Bureau's pursuit against financial misappropriation. He further disclosed that, in response to a multitude of complaints received from the general public, a direct inquiry has been formally authorised in the Future Vision Scam. However, in order to prevent further financial exploitation, categorical instructions have been issued that individuals operating fraudulent Ponzi schemes be immediately placed on the Exit Control List (ECL). The DG underlined that all operations are being undertaken in strict compliance with the directives of the Honourable Chairman NAB, whose guidance remains instrumental in driving the institution's citizen-centric agenda. NAB's resolve remains firm to bring all culpable elements to justice and to ensure that the aggrieved parties are duly compensated, he added. He further remarked that, unlike prior practices, the current model of Khuli Katcheri encourages direct interface between victims and housing society administrations, thereby facilitating pragmatic and result-oriented dispute resolution. Weekly monitoring of progress on individual cases is being conducted under his supervision is meant to maintain fair momentum and institutional vigilance. Owing to the relentless efforts and dedicated interventions of NAB Lahore, billions of rupees have been recovered, benefitting thousands of citizens who had fallen prey to fraudulent schemes. The victims present on the occasion expressed profound appreciation for the dynamic leadership and proactive measures taken by DG NAB Lahore, and acknowledged that the regular convening of open courts, is a reflection of Chairman NAB's unwavering commitment to public facilitation and institutional transparency. Copyright Business Recorder, 2025
Express Tribune
a day ago
- Express Tribune
Court extends physical remand of key accused in Kohistan scandal
The Special Accountability Court in Peshawar has extended the physical remand of Ayub Khan, the main suspect in the Kohistan financial scandal, for an additional two days. The extension was granted following a request by the National Accountability Bureau (NAB), represented by Deputy Prosecutor General Muhammad Ali, who was accompanied by the investigation officer. The court was informed that the accused, Ayub Khan, is involved in suspicious bank transactions and has also been found in possession of illegal assets. NAB revealed that the accused has submitted a plea bargain request, which is currently under review. Deputy Prosecutor General Muhammad Ali told the court that further interrogation of the accused is necessary. He added that the investigation into the Kohistan scandal, a scam worth Rs40 billion, is ongoing. NAB is working to identify all those involved, the extent of corruption, and recover stolen assets. For this purpose, the extension in remand was deemed essential. Granting NAB's request, the court extended the physical remand of the accused for another two days. According to NAB, the Kohistan scandal involves Rs40 billion, with eight suspects arrested so far. NAB has recovered Rs25 billion in the form of luxury vehicles, lavish bungalows, and apartments. In addition, a significant amount of cash has been frozen. Several individuals, including newly elected Senator Azam Swati, are currently out on protective bail.
