Islamabad, Sep 23: The National Accountability Bureau (NAB) has achieved a historic recovery of Rs. 168.5 billion related to the Bus Rapid Transit (BRT) Peshawar project, marking a record in its 25-year history.
The investigation into the BRT project commenced in 2018, amid allegations of illegal contract allocations and financial mismanagement. NAB dismissed contractors’ claims totaling Rs. 31.5 billion in the International Court of Arbitration.
The inquiry revealed that six major contracts were improperly awarded, leading to non-compliance and project delays. A review of over 400 bank accounts uncovered misconduct, including fake guarantees and significant damages claimed by the Peshawar Development Authority (PDA), amounting to Rs. 86 billion.
NAB’s actions resulted in savings of Rs. 108.5 billion, alongside an additional Rs. 9 billion saved by completing the project within the original budget.
The inquiry indicated that foreign companies were needed to finish the project due to the contractors’ failures.
Furthermore, the investigation exposed false audit reports submitted by contractors, prompting inquiries into foreign firms through their embassies.
Contractors had claimed Rs. 5 billion in increased costs, but NAB facilitated a settlement, finalizing payments at Rs. 2.6 billion.
Consequently, the Peshawar High Court has officially closed all related cases, highlighting a significant step forward in NAB’s anti-corruption efforts.
