PSM corruption: SHC grants bail to Moeen Aftab Sheikh

April 11, 2013 Off By Web Desk

Karachi: The Sindh High Court (SHC) on Thursday granted bail to former chairman Pakistan Steel Mills, Moeen Aftab Sheikh who was accused in a corruption case that caused a loss of Rs22billion to Pakistan Steel.

A division bench headed by Justice Maqbool Baqar granted him post arrest bail in the sum of Rs5million and restrained him from leaving the city. The court also directed him to surrender his original passport with the Nazir of the court.

The accused Moin Aftab who is facing trial before accountability court no IV at Karachi in reference 22/2012 and has been behind bars since 5.8.2012, sought post arrest bail in said case.

Due to the massive losses in Pakistan Steel Mills (PSM), FIA had initiated investigation in respect of alleged corruption in PSM, and found top management of PSM involved in various malpractices and registered FIR Nos 36/09, 37/09, 38/09 and 39/09 regarding corruption and misuse of powers against Aftab and other co-accused including PSM Managing Director Rasool Bux Phulpoto, Director Commercial Samin Akhtar, PSM Finance Officer Sabeen Sakina, Abbas Steel Mills (ASM) Director Malik Basher Ahmed, Abbas Steel Mills Director Khalid Khan and Rasheed Abro.

The petitioners’ counsel stated before the court that matter was pending before the Anti-corruption court and an interim challan was submitted on 3/8/2012. However he said that since then no final charge sheet was filed. He said that anti-corruption court converted interim charge sheet into final charge sheet but still charge against Aftab has not been framed.

He further submitted that matter was transferred to National Accountability Bureau on 25/9/2012. However the court also directed concerned trial court to frame charge and proceed to record evidences so that trial may be conducted at earliest