ISLAMABAD: The Supreme Court Wednesday announcing its verdict in suo motto notice of the Steel Mills corruption case has charged Interior Minister Rehman Malik for contempt of court and transferred the enquiry from Federal Investigation Agency (FIA) to National Accountability Bureau (NAB).
A three-member bench of the apex court, comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Khilji Arif Hussain and Justice Tariq Pervez, heard a suo moto case on the corruption of Rs22 billion in Pakistan Steel Mills.
Earlier the court had reserved its verdicts in the case on March 15.
The detailed verdict of 57 page read by Justice Tariq Pervez charged interior minister Rehman Malik for contempt of the court and asked him to submit his reply in two weeks. In the verdict the SC transferred the investigation of the case from Federal Investigation Authority to National Accountability Bureau (NAB). The SC directed Chairman NAB to monitor the investigation and conclude the case within three month.
The apex court also directed the NAB to file cases for the cancellation the bails of the accused including former chairman PSM Moeen Aftab.
On March 13, the Supreme Court sought an explanation from the Ministry of Industries and Production for its failure to take notice of the huge losses of Rs26.5 billion on account of corruption and mismanagement in the state-owned Pakistan Steel Mills during the year 2008-09.
During the course of hearing Chief Justice remarked the court saved Steel Mills from privatization but corruption has eaten up the institution like a termite. It was the job of the courts to identify corruption, which we have done. Now it is up to NAB to take action against the responsible and recover the looted amount.
The court also said that everywhere in the world Steel Mills is responsible for development but in Pakistan the Mill is facing loss of more than one billion rupees monthly.