KARACHI: Special Judge Federal Anti Corruption Court – I, Muhammad Afzal Khan, on Thursday issued notices to the prosecutor on the bail application of Hussain Haqqani, former chairman, House Building Finance Corporation (HBFC), and fixed June 5 for further proceedings.

Haqqani was booked by FIA State Bank Circle in a corruption case. According to the FIR (dated September 5, 1996) accused Hussain Haqqani, when he was chairman HBFC, had deposited without any authority, Rs. 10 million of HBFC in Asset Investment Bank of Islamabad, which did not have a sound position in the financial market. Thus by depositing this money in a bank of his own choice he had allegedly gained illegal pecuniary benefit for himself.

His counsel Shahadat Awan has taken plea that the case had been registered on political grounds as the applicant is an ally of Pakistan Peoples Party and was leaving for Dubai to meet PPP chairperson, Benazir Bhutto, when he was arrested and booked in the case. The FIR was lodged after a delay of about three years and the case stands on no footing as no pecuniary loss was caused by the act of the applicant.

Source: The News

Date:6/4/1999