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EOBI becomes partner in DHA, Bahria Town plunder: Col Tariq

Islamabad:Former Director Engineering DHA Islamabad Lt. Col. M Tariq Kamal (Retired) has asked the Chief Justice Pakistan Iftikhar Muhammad Chaudhry to take note of massive irregularities in the Employees Old-Age Benefits Institution (EOBI) before it goes bankrupt.

EOBI top officials after plundering the national wealth to the tune of billions have now joined hands with Defence Housing Authority (DHA) and Bahria Town in a bid to get billionaire overnight, he said.

Col Tariq said that he has already informed army chief, NAB, FIA, police, and all other related institutions about corrupt practices but to no avail.

Later, he said, he invoked the Islamabad High Court about the shady deal between the DHA and Bahria Town in which the formed gifted 400 kanals of precious land to the later illegally, free of cost and without getting any assurance.

Subsequently, the IHC in February 2012 vide order number 419/2012 ordered the police to register a FIR against the accused, initiate investigations and inform court. However the police did not moved despite judicial orders.

Col Tariq said that now Malik Riaz of Bahria Town has sold 312 kanals of disputed land to EOBI for Rs 16 billion. Those who are involved in this deal include the administration of DHA, Bahria Town and Chairman EOBI Zafar Iqbal Gondal who is younger brother of Federal Minister Nazar Gondal, he said.

Surprisingly, EOBI was in so haste to buy land at double the market price that it ignored all the formalities that also included DHA Ordinance and directives of Ministry of Human Resource Development under which it is works.

He said that EOBI has made many shady deals which have put a questions mark on the survival of the institution which has remained self-sufficient and which is supposed to keep the interests of over five million retired labourers, orphans and widows.

The other issues in the EOBI such as making rash investments, purchasing disputed properties and banglows, awarding contract at higher rates, over payments, financial irregularities, hiding accounts and deals from auditors, abnormal fluctuations in profits, payments made in the names of consultancy, legal and professional fees, high repair maintenance cost, bad debt expenses, management and operating expenses etc. merit a thorough probe, he demanded.

“Only independent judiciary can probe the matter on merit and bring to book those who benefitted from the deal between DHA, EOBI and Bahria Town in which unbelievably exorbitant price was paid,” said Col Tariq.

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