ISLAMABAD, April 28: The Supreme Court expressed displeasure on Thursday over the perceived attempts by the Federal Investigation Agency to hush up the Rs26 billion Pakistan Steel Mills scam only to spare big names like steel tycoon Riaz Laljee, stated to be a friend of President Asif Ali Zardari, and his daughter Sabeen Sakina. A three-judge bench comprising Justice Javed Iqbal, Justice Raja Fayyaz Ahmed and Justice Anwar Zaheer Jamali, which had taken up a suo motu case relating to corruption and huge losses suffered by the PSM, deplored that legal procedures were being manipulated by the FIA only to hush up the matter. The court made it clear that it was very serious about the recovery of Rs26 billion no matter whosoever was involved, but explained that the court had no grudge against any individual.

FIA Director (Legal) Mohammad Azam named Mohammad Bashir, Khalid Khan, Sabeen Sakina and three directors of the Abbas Group, Al-Abbas Engineering and Al-Abbas Steel which were considered to be the main beneficiaries of the sale policy of the PSM. Riaz Laljee was a director of one of the groups till 1994.

Mr Azam said the FIA had traced nine banks accounts of the group but had failed to detect outflow of amounts to any foreign bank. Complete account details of the directors to be provided by banks were still awaited, he added.

The director also informed the court that the FIA through Interpol had approached Canada, China, Australia and many other countries and requested them to share with it any information about the money remitted from Pakistan by the steel groups.

But this could not impress the court which deplored that the pace of progress was negligible and that the FIA was only creating panic among small traders by implicating them in cases and letting loose the influential. The court specifically mentioned the role of Riaz Laljee and former PSM chairman Moeen Aftab Sheikh behind bad financial health of the mills.

Justice Javed Iqbal repeatedly asked the FIA officials why had they failed to collect substantial evidence against the main culprits and directed them to take steps to get their bail cancelled.

“You don't have the moral courage to name those who are plundering the national wealth,” Justice Raja Fayyaz said, adding that the FIA was not doing honest investigation and succumbing to the pressure of bigwigs. In fact, he said, the FIA had become an organisation only to chase the poor, and not the rich.

Justice Iqbal asked Attorney General Maulvi Anwarul Haq to impress upon the high-ups to appoint a capable officer as chief executive officer of the steel mills, instead of indulging in nepotism. “We do not want to go to the extent of appointing the officers ourselves,” the court observed.

The court was informed that efforts were being made to appoint a suitable person as CEO.

The court sought a report explaining why a comprehensive finding by the production ministry about the PSM was not being implemented and asked the FIA to probe allegations that some directors had been appointed recently by the mills whose integrity had been tainted with allegations of corruption.

Before adjourning the case for two weeks, the court asked the government to submit the audit report of the mills at the next hearing.