LAHORE, June 15: The National Accountability Bureau will investigate the cases of all 52 foreign exchange companies in the Punjab. This was stated by NAB Director (investigation) Brig Manzoor Abbasi while talking to reporters here on Tuesday.

He said the investigation against six major companies had been completed and the directors of one of those arrested for committing fraud. However, he said, proceedings against two dozen others were in process.

Answering a question, Brig Abbasi said the bureau could not stop those companies from doing business, which were allowed by the Securities and Exchange Commission.

Earlier, Punjab NAB's acting director-general Brig Qasim Abbas distributed cheques worth Rs120 million among 1,341 victims of cooperative societies. As many as 21,186 people had been paid Rs1.216 billion so far.

Payment to others would be made in August and November this year and Jan 2005, he said, adding the payment limit had been increased from Rs300,000 to Rs1 million.