Daily The Business

$95 million money laundering case NAB summons Mian Mansha, son on February28

LAHORE: National Accountability Bureau has summoned Nishat Groups
Chairman Mian Muhammad Mansha and his son on February28 in a case
pertaining to money laundering worth $95 million.

The anti-graft watchdog served notices on Mian Muhammad Mansha and
his son to appear before the NAB in person on February 28 and record
their statements.

NAB is probing the source of transfer of funds to England to buy a hotel.

It is pertinent to mention here that Mian Muhammad Mansha had bought
multi billion Dollars Saint James Hotel and Club in 2010 in London.

Sources privy to NAB informed that Mian Mansha will be probed in
connection to a money laundering case worth $95 million.

The watchdog had previously summoned the suspect for questioning on
August 17, but Mian Mansha did not appear before the NAB officials.

Earlier, industrialist-cum-banker Mian Muhammad Mansha’ s Nishat Power
was taking 32 per cent profit, however other independent power
producers were allowed to take 17 per cent profit, the Senate standing
committee on power had been told on January 15.

The additional secretary power had told the Senate body that the
government was paying capacity charges to 41 private power plants.

He said that no capacity charges were paid to Reshma power plant. The
Senate committee meeting chaired by Senator Fida Muhammad had sought
National Electric Power Regulatory Authority (NEPRA) over providing
excessive benefits and profits to Reshma power plant.

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