FIA starts probe against alleged ‘financial misappropriations’ in NATCO

FIA starts probe against alleged ‘financial misappropriations’ in NATCO

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With reporting by Abdul Rehman Bukhari

Gilgit: The Federal Investigation Agency (FIA) has started investigations against the Managing Director of NATCO, a government backed transport corporation, on charges of financial embezzlement, and getting undue and illegal perks and privileges.

The FIA Deputy Director Hanifullah Khan, through a letter, has asked the MD of NATCO to share detailed documents and explanations regarding 12 acts of alleged embezzlement. The MD stands accused of using his position and power to use the corporation’s resources for his personal benefits. It is alleged that the MD may have misappropriate tens of millions of rupees since his appointment.

The details sought pertain to undue collection of TADA, misappropriation of board meeting allowances, illegal usage of multiple cars, irregularities in payments pertaining to construction of the MD house, causing losses to the government exchequer in purchase of non-custom-paid (NCP) vehicles, and alleged irregularities in payment to contractors for construction of house, among others.

NATCO provides transport services within Gilgit-Baltistan, as well as between GB and Rawalpindi, and Karachi and Lahore. The semi-government corporation gets most of its funds from the government. It is also involved in transportation of goods between Gilgit-Baltistan and Rawalpindi.

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