Islamabad High Court questions acquittal of former EOBI chief in corruption case

The Islamabad High Court has questioned the acquittal of the former chairman of Employees Old-Age Benefits Institution (EOBI) in a corruption case involving the alleged misappropriation of Rs40 billion. Justice Shahrukh Arjumand issued summons for the former EOBI chief and other accused to appear in person on November 20 after hearing arguments challenging the trial court's decision.

The case was registered under FIR No. 03/2014 with the Federal Investigation Agency (FIA) in 2014. EOBI's counsel Aftab Alam Yasir argued that the acquittal was unjustified, citing allegations of serious financial irregularities in EOBI's investments. He claimed that plots and villas purchased under an agreement with Defence Housing Authority (DHA) in March 2013 were obtained without a transparent procurement process, and that no competitive bidding was carried out, violating the Public Procurement Regulatory Authority (PPRA) Rules.

Yasir contended that EOBI, as a public-sector institution governed by the Government's Rules of Business, 1973, had a legal obligation to adhere to procurement rules. He also pointed out that subsequent ratification by the institution's Investment Committee or legal adviser could not override statutory requirements. The counsel referred to a Supreme Court judgment, arguing that a legal opinion could not absolve the head of the department from responsibility. The High Court ordered the respondents to appear before the court on November 20.