NAB summons contractors over alleged financial irregularities in KP urban project

PESHAWAR: The National Accountability Bureau (NAB) has summoned representatives of three contracting firms on September 22 as part of an ongoing investigation into alleged large-scale financial irregularities in a nearly Rs97 billion urban development project in Khyber Pakhtunkhwa.

The investigation has now expanded to the contractors involved in the project, with NAB seeking details of bank accounts, payments and other financial records related to the scheme.

According to the investigation, allegations include irregularities in financial transactions, procurement procedures and the award of contracts under the major urban development project. Information emerging during the probe has pointed to alleged financial irregularities involving up to Rs32 billion, with records of various contracts and payments being examined.

The investigation also covers allegations that billions of rupees were paid to certain contractors in violation of rules, along with unusually large advance payments and alleged breaches of prescribed procurement procedures.

In some cases, allegations have been raised that substantial payments were released despite limited physical progress on the projects. Questions have also been raised over the approval and monitoring mechanisms governing these payments.

NAB is examining the actual progress of construction work against the amounts released to contractors as part of its ongoing probe.

The representatives of the three contracting firms have been directed to appear before NAB on September 22 and provide the required financial and project-related records.

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