Business

ISLAMABAD – A mega scam of corruption and irregularities has surfaced in the National Insurance Company Limited (NICL).

According to reliable sources vacant floors of NICL building located in Karachi were not provided to any one on rent deliberately and this way the institution had to suffer loss amounting to Rs 220 million during the two year.

Moreover, the corrupt elements of NICL failed to recover Rs 210 million on account of rent from small tenants of NICL building.

The official documents placed in Senate disclosed that salary of officers and other staff members of NICL was increased by 30 percent without obtaining approval from finance ministry. This way additional payment of over Rs 83 million was made to the employees out of national kitty.

When explanation was sought from the administration in this regard then they kept mum and the letter written to them on this count was put to cold storage.

The administration of NICL also made a payment of Rs7.056 million to 18 retired officers in violation of rules and regulations.

“When asked to explain the position, the administration shelved the matter”, the report said.

The report further said that NICL paid damage claim to a private company PARKO in 2013 in respect of its pipeline which was damaged in 2010 during floods and due to late payment NICL had to make additional payment of Rs5.055 million.

It was recommended in the report that obtaining reply from NICL in respect of these irregularities be ensured and action be taken against the persons found responsible.