ISLAMABAD: The National Accoun-tability Bureau has moved the Supreme Court seeking cancellation of the bail granted by the Islamabad High Court to Tauqeer Sadiq, former chairman of the Oil and Gas Regulatory Authority, in the Rs82 billion Ogra scam.

“The NAB has filed an appeal in the apex court because we need custody of Tauqeer Sadiq to move ahead with the investigation against him,” a NAB spokesman said.

Read: IHC overturns Tauqir Sadiq's sentence

The accused was arrested by NAB in Dubai in Jan 2013 and then the Islamabad High Court released him on bail in March last year. As per the NAB ordinance, an accused is liable to be granted bail if the prosecution fails to prove anything against him for more than a year.

Tauqeer Sadiq has been accused of receiving Rs39bn extra from gas consumers in connivance with the Sui Northern Gas Pipelines Ltd and Sui Southern Gas Company.

Also read: Gilani, Ashraf exempted from appearance in accountability court

He allegedly manipulated the stock market to hike the value of SNGPL and SSGC shares from Rs19 to Rs45, causing a loss of Rs500 million to the exchequer.

He is also accused of issuing about 500 licences for CNG stations after receiving Rs300,000 per licence.

Published in Dawn January 29th, 2015

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