NAB Books Eight Officials from PSO & Byco Over Corruption

On Friday, arrest warrants for three high-profile absconding suspects were issued by an accountability court. These include a former managing director of Pakistan State Oil (PSO) as well as the CEO of a private oil company. The accused are believed to be involved in a Rs 23 billion corruption case.

NAB has booked as many as eight officials from Byco and PSO over alleged corruption in sale/purchase of petrol.

The accountability court was informed that efforts are being made to arrest:

Naeem Yahya Mir, former PSO MD
Sabir Hussain, former director general (oil)
Amir Abbasciy, CEO of Byco Pakistan Petroleum Ltd.
The investigation officer requested for more time to make these arrests and produce them in court.

Similarly, the judge ordered the accused to be produced in court on Nov 17. Arrest warrants for the absconders were also issued.

In its reference, NAB had included the above three personnel as well as Akthar Zameer, former GM (retail and consumer business), Syed Zulfiqar Ali Jaffri, director general (oils) and others.

NAB believes that these officials, especially from the PSO and the ministry of petroleum, had abused their authority and indulged in corruption with officials from Byco.

Over Rs 23 billion loss was caused to the national exchequer as a result, NAB says.