ISLAMABAD(National Times): The National Accountability Bureau has come up with details of recoveries of Rs821 billion made from its inception till November 2021, while claiming that the major chunk of Rs500.65 billion were recovered from indirect recoveries.<\/p>\n
The NAB’s response came on disclosure of the Finance Ministry in a meeting of the Senate\u2019s Committee on Finance that the Finance Ministry had not yet received Rs821 billion recovered by NAB, and only Rs6.5 billion is lying with it. According to NAB, out of Rs821 billion recovered, Rs500.65 billion were recovered indirectly, Rs198. 057 billion recovered from bank loans and defaults, including PCBL, Rs 45.914 billion recovered as court fines and Rs76.952 billion recovered in voluntary returns and plea bargain.<\/p>\n
Regarding indirect recoveries of Rs500.65 billion, the NAB said they were made in the form of land and other properties etc in different cases. They have already been handed over to owners, claimants and entities, etc. Rs198.057 billion was recovered on account of bank loans and defaults and recoveries made from other financial institutions such as PCBL (Punjab Cooperative Board For Liquidation). The amounts were realized \/credited to respective financial institutions.<\/p>\n
The NAB explained that Rs45.914 billion was recovered as fines imposed by the Accountability Courts. About Rs76.952 billion recovered in cash and kind through voluntary return and plea bargain during inquiries and investigations. However, the Supreme Court of Pakistan ordered not to exercise the option of Voluntary Return i.e 25 (a) of the NAB 1999 vide petition no 17\/2016. The amount of Rs76.962 billion includes Rs54.902 billion cash while the rest were made in-kind. Moreover, Rs46.22 billion have already been disbursed to the respective federal and provincial governments and relevant entities.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD(National Times): The National Accountability Bureau has come up with details of recoveries of Rs821 billion made from its inception till November 2021, while claiming that the major chunk of Rs500.65 billion were recovered from indirect recoveries. The NAB’s response came on disclosure of the Finance Ministry in a meeting of the Senate\u2019s Committee on […]<\/p>\n","protected":false},"author":1,"featured_media":16227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","entry"],"yoast_head":"\n