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Tuesday, October 23rd, 2018

Chairman NAB took notice of delay of 22 years in State Life Tower

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Islamabad, January 22, 2018 (PPI-OT):Chairman NAB Honourable Justice Mr. Javed Iqbal took notice of the misuse of authority corruption over 22 years delay in the construction of 22 story building of State Life Tower in Islamabad owned by State Life Insurance Company of Pakistan. The Chairman NAB directed to fix responsibility of the delay in construction of State Life Tower in Islamabad and conduct inquiry against reports of corruption and causing losses worth multi million rupees to national kitty. The Chairman NAB directed to ensure correct use of people’s hard earned money invested in State Life Insurance Corporation of Pakistan and policy holder’s money should be invested in profitable schemes.

The cost of tower being constructed with the preliminary cost of Rs 1.3 billion has been increased manifold in 22 years. Despite passage of 22 years, only 19 stories of State Life Tower in Islamabad have so far been completed and remaining three stories need more time for completion. The delay of over 22 years is classic example of ill planning and bad governance.

The Chairman NAB has sought reasons behind frequent change of Chairman of State Life Insurance Corporation of Pakistan so that the responsible of squandering public money could be identified and further course of action will be taken as per law.

For more information, contact:
National Accountability Bureau (NAB)
Attaturk Avenue G-5/2, Islamabad, Pakistan
Tel: +92-51-111-NAB-NAB (111-622-622)
Fax: +92-51-9214503
Email: chairman@nab.gov.pk, infonab@nab.gov.pk
Website: www.nab.gov.pk

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