ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday approved three investigations and 11 inquiries into alleged white collar crimes involving a huge amount of over Rs24 billion.

Decisions on the investigations and inquiries were taken during a meeting of the NAB`s Executive Board.

One of the investigations was approved against SheladiaAssociatesPakistan and ofhcials of Sheladia Associates Pakistan and others in the construction of 22km Barang Road in the Federally Administers Tribal Areas (Fata). In this case, the accused persons were blamed for over payment and obtaining kickbacks/commission from contractors, causing a loss of Rs89.959 million to national exchequer.

An investigation was ordered against officials for misuse of authority regarding illegal allotment of plots amounting to Rs45 million.

Another investigation was approved against owners of Pakcom (Insta Phone) and others. In this case, they were accused of wilful default in payment of outstanding dues of Rs21.624bn to Pakistan Telecommunication Authority (PTA).

The meeting decided to initiate 11 inquiries.

First inquiry was approved against the managing committee of the Ministry of Interior EmployeesCooperative Housing Society, Raja Ali Akbar and others for providing less land against full payments made by the managing committee which caused a loss of Rs144m.

Second inquiry was approvedagainstDrMujahid Kamran, Vice Chancellor of the University of Punjab, for allegedly misusing his authority and cheating the public at large.

Third inquiry was approved against officials of the Multan Electric Power Company and others for allegedly misusing authority which caused a loss of Rs50m.

Fourth inquiry was approved against Abdul Ghaffar Memon, a government contractor. In this case, Mr Memon has been accused of Suspicious Transaction Report (STR)referred by the State Bank of Pakistan.

Fifth inquiry was ordered against chairman/director of a private company, Aeroluba, and others for alleged misuse of authority and misappropriation of supplies of aircraft petrol which caused a loss of Rs2.370bn.

The executive board also approved six other inquiries against following six sugar mills: Abdullah Sugar Mills (Formerly Yousaf Sugar Mills), Lahore; Abdullah Sugar Mills, Depalpur/ Lahore; TMK Sugar Mills, Karachi; Seri Sugar Mills, Karachi; Tandianwala Sugar Mills, Lahore; and Haseeb Waqas Sugar Mills, Lahore for their alleged involvement in misappropriation of funds.