LAHORE: The National Accountability Bureau, Lahore, on Monday arrested prime suspect Muhammad Mohsin Syed, former regional director, National Industrial Parks Development (NIPD), on charges of fraudulently purchasing 100-acre land in Sargodha for an industrial park, causing Rs112.5 million loss to the national exchequer.

According to a spokesman, NAB initiated an inquiry against the suspect in 2015 on the complaint of an internal source that Mohsin purchased 100-acre land on higher rates.

He said according to the actual rate, the land valued around Rs20 million as per DC rates in 2012; but the suspect purchased it for Rs132.5m from a middleman instead of the legal owner of the land.

Saline drainage running across the land consists of 42 kanals of total land, which had already been acquired by the irrigation department, was again purchased by NIPD, he said.

Acting on the information, the bureau arrested Muhammad Mohsin Syed and presented him before an accountability court for getting his remand.

Published in Dawn, May 23rd, 2017