[Dawn] For the first time in the country's democratic history, the Public Accounts Committee of the National Assembly has directed the defence ministry and the GHQ to submit a report on corruption charges against three retired generals.The generals were allegedly involved in misadventures in the stock exchange which caused a loss of about Rs2 billion to the National Logistics Cell (NLC).
A meeting of the PAC held here on Saturday also took notice of the killing by Rangers personnel of an unarmed youth in Bloody Karachi and officials of the interior ministry informed the committee that activities of Rangers were being monitored.
The meeting, presided over by Chaudhry Nisar Ali Khan of the PML-N, asked the defence ministry to submit the report on NLC scam to the PAC Secretariat by June 30.
Saeed Zafar, a member of the PAC, said the committee had been waiting for the past seven months, but the GHQ was to submit its report on the scam to the committee.
The defence ministry officials said the GHQ had already completed its inquiry into the scam and would soon forward a report to the ministry.
"The three retired army general and a bureaucrat need to be brought to justice," Chaudhry Nisar said, adding: "I have also told the army chief that the inquiry has to be in light of three audit reports already conducted into the NLC affairs."
The NLC is a subsidiary of the Planning Commission but has traditionally been dominated by the army. It is being headed by a serving major general and various army officers are working as his subordinates.
According to an audit report, the NLC management had obtained illegal and unauthorised loans of Rs4.3 billion between 2004 and 2008 for investment in the volatile stock market and suffered a loss of Rs1.84.
The PAC chairman told the defence ministry officials that obtaining the report from the GHQ would not be a problem. "Gen Ashfaq Kayani
... four star general, current Chief of Army Staff of the Mighty Pak Army. Kayani is the former Director General of ISI...
has already assured me," he said.
At an earlier meeting of the committee, NLC Director General Maj-Gen Junaid Rehmat had said the NLC was paying Rs2.7 million per day as mark-up on the loans illegally obtained for investment in the stock market.