Dada caused Rs 500m loss to national exchequer: NAB tells SHC

KARACHI: National Accountability Bureau (NAB) on Tuesday informed the Sindh High Court (SHC) that former director National Insurance Company Limited (NICL) Ameen Qasim Dada has misappropriated Rs 500 million.

SHC bench, headed by Justice Naimatullah Phulpoto, was hearing the petition filed by Dada stating that he has been harassed by NAB in respect to NICL scam.

In Tuesday’s hearing, NAB filed its reply stating that Ameen Dada during his term used his powers for wrong reasons and caused a loss to the national exchequer to the tune of Rs 500 million. NAB’s reply went on to say that Dada is not entitled to any discount and his plea should be rejected.

The court summoned Investigating Officer along with record on 2nd December. In the petition, Ameen Qasim Dada submitted that NAB is investigating NICL scandal and he has been harassed by bureau in this regard. He requested the court that his harassment by NAB should come to an end.

It was alleged that former director NICL along with top management of his department purchased a plot measuring 27000 square feet in Dubai in UAE at exorbitant rates which caused a huge loss to the national exchequer.