LAHORE, Sept 19 The National Accountability Bureau has managed to trace the property and bank balance of Haris Steel Mills worth Rs3.25 billion abroad.

“We have traced its 17 properties in Dubai and one in Malaysia worth Rs1.2 billion and Rs2 billion bank balances. We are getting them frozen through diplomatic channels,” a NAB source told Dawn on Saturday.

The NAB a few days ago had arrested four accused in the Rs9 billion BoP scam on the orders of Supreme Court.

The Haris Steel Mills and its two sister concerns had secured Rs9 billion loan from BoP in connivance with its officials including its then president Hamesh Khan in 2007.

According to NAB, the real owner of the mills, Shaikh Afzal, had pledged the mills property worth Rs250 million against the loan. The source said main accused Shaikh Afzal and his son Haris Afzal had been hiding in Malaysia and Hamesh in the US.

The NAB has requested the interior ministry to cancel the passports of Afzal and Haris. “After getting their passports cancelled these will be sent to the Malaysian embassy so that its holders could not leave the country and it will be easier for the (Malaysian) government to arrest them,” the source said. Similarly, the NAB has requested the Interpol to issue red warrants for Hamesh Khan.

Despite being placed on exit control list (ECL), Hamesh, Afzal and Haris managed to slip away from the country.

Hamesh and some other officers of the bank had allegedly approved the loan in violation of rules and regulations.

The financial irregularities in the BoP were pointed out during an internal audit last year and subsequently a complaint was filed with the NAB by the State Bank of Pakistan. After further probe the NAB upgraded the inquiry into investigation last year.

The NAB has also seized documents of 130 properties of Shaikh Afzal from his Model Town and Defence residences, besides taking possession of his 22 luxury vehicles. The NAB source said it had put the property on 'caution.'The Supreme Court had also asked the BoP to confiscate the property of Sheikh Afzal after duly publicising the same in newspapers. The next hearing of the case will be held on Oct 5.