NAB Probes Gold Extraction Contracts in KP
The National Accountability Bureau (NAB) in Khyber Pakhtunkhwa has launched an inquiry into alleged financial irregularities linked to gold extraction contracts issued by the provincial Department of Minerals.
Sources familiar with the investigation stated that records related to the contracts have been seized from the department. The contracts involve gold extraction from various locations, including Nizampur, Swabi, Kohat, Kohistan, and parts of the River Indus.
The inquiry focuses on a specific contract in Nizampur, where gold extraction rights were reportedly awarded for Rs4 billion, despite being valued at Rs6 billion. NAB is examining whether this discrepancy reflects deliberate undervaluing to benefit certain individuals.
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Authorities suspect that several contracts may have been granted below market value, causing potential losses to the public treasury. Officials believe that the bidding process may have favoured select contractors.
A NAB official confirmed that the collected records are currently under review. Once the documentation is examined, individuals, including departmental officials and contractors, are expected to be called in for questioning.
