LHC has issued notices to heads of 56 companies in Rs80 bn scam case

Lahore High Court (LHC) on Wednesday has issued notices to heads of the 56 companies in Rs80 bn scam case and has sought clarification till November 14.

LHC Chief Justice (CJ) Mansoor Ali Shah asked government officials about the motive behind the formation of companies despite the presence of municipal system. Shah hinted at the constitution of a larger bench to proceed hearings.

Shah raised several key questions. He asked, “How can a secretary become company’s head and withdraw double salary”, and inquired about procedure regarding an audit of these companies.

On the other hand, the opposition is mulling to raise the matter in Punjab Assembly.

Dunya News Investigation Wing, on October 20, unearthed mammoth irregularities over Rs80 bn in financial matters of 56 companies formed by Punjab government.

As per details garnered, Punjab govt had constituted 56 companies under the guise of good governance and registered them under Article-42 of Companies Ordinance 1984. Punjab Chief Minister Shahbaz Sharif was inspired by the Turkish model and therefore summoned analysts from the same.

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