Ex-PSM chairman acquitted in NAB reference

KARACHI: The Accountability Court of Karachi has acquitted ex-chairman of Pakistan Steel Mills (PSM) Usman Farooqui from the NAB reference that alleged that he was involved in corruption, causing a loss of Rs17 million to the national exchequer during purchase of a ferrous manganese contract.

In NAB court No. 4, lawyer of Usman Farooqui Raza Hashmi took the stance that when ferrous the contract for purchasing of manganese contract was signed his client was not PSM chairman.

He also said that the witnesses presented in the reference didn’t give statement against Usman Farooqui.

On the basis of above arguments, the Karachi NAB court acquitted former PSM chairman Usman Farooqui.

The reference was closed under the National Reconciliation Ordinance (NRO) but was reopened after the NRO was abolished. After the acquittal from NAB reference, there is no case against Usman Farooqui in accountability court; however there are three appeals under hearing in the Sindh High Court. SAMAA