PSM ex-chairman, others acquitted in Rs900 mln corruption reference

ISLAMABAD: An accountability court has acquitted three accused including the former chairman of Pakistan Steel Mills (PSM) Moeen Aftab over lack of evidence in a corruption reference worth Rs900 million, ARY News reported on Thursday.

The accountability court has announced its verdict today in a reference filed against Rs900 million corruption by awarding an illegal contract for coal purchases after misusing authority. PSM ex-chairman Moeen Aftab, director commercial Sameen Asghar and contractor Abdul Rasheed were nominated in the reference.

It is pertinent to mention here that the National Accountability Bureau (NAB) had filed nine corruption references against Moeen Aftab.

NAB officials said that Aftab and Asghar were facing charges of misusing their authorities for awarding an illegal contract to Abdul Rasheed which he had purchased on higher than the market rates.

The anti-corruption unit had opened an investigation into the matter in 2010, which was later transferred to NAB over directives of the Supreme Court.

Moeen Aftab had been acquitted in two out of nine corruption references filed by the anti-corruption watchdog.