ISLAMABAD – The National Accountability Bureau (NAB) has claimed a recovery of Rs 168 billion in the Peshawar Bus Rapid Transit (BRT) inquiry.
In a statement, NAB said it made the largest recovery in its 25-year history within the BRT project, with NAB Khyber Pakhtunkhwa securing an indirect recovery of Rs 168.5 billion in the Peshawar BRT case.
The statement further mentioned that NAB also had a claim of Rs 31.5 billion from contractors dismissed through the International Arbitration Court.
According to the statement, the investigation into the Peshawar BRT project began in 2018. The probe revealed illegal awarding of contracts and embezzlement of public funds. When NAB’s current leadership accelerated the investigation, a saving of Rs. 108.5 billion was achieved. It was proven that six projects in the contract were wrongly awarded to specific companies.
The annual loss of the Peshawar BRT project has reached Rs 3.38 billion.
NAB stated that the companies violated the contract and received nearly Rs. 1 billion without completing any work. NAB’s investigation examined over 400 bank accounts, leading to further evidence.
Contractors had submitted fake guarantees to the Peshawar Development Authority (PDA), which also demanded Rs. 86 billion in damages. Contractors failed to complete the work within the 6-month deadline, and foreign companies never came to Pakistan to work on the project.
NAB also revealed that contractors submitted bogus audit reports, and the SECP confirmed the falsification. NAB included foreign companies in the investigation through their embassies. Contractors filed a claim of Rs 5 billion based on interest payments, but NAB’s investigation ensured the project was completed at its actual cost, saving Rs. 9 billion for the national treasury.
The statement added that, due to NAB’s efforts, the project was completed at its original cost, resulting in additional savings of Rs. 9 billion.
The contractors requested an out-of-court settlement with PDA, which was finalised at only Rs. 2.6 billion. Following this agreement, the Peshawar High Court closed all related cases.
The statement further mentioned that NAB had initiated its investigation into the illegal contract awards and embezzlement of public funds in the Peshawar BRT project back in 2018.
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