TIP Chairman Syed Muhammad Hussain Shah

PESHAWAR, 22 December: The National Accountability Bureau (NAB) has arrested the chairman of the Telephone Industries of Pakistan (TIP), Haripur.

According to a press release issued here on Thursday, the accused Syed Muhammad Hussain shah was allegedly involved in illegal allotment of plots in TIP Housing Scheme and caused a loss of Rs360 million to public exchequer.

As per details, Telephone Industries Pakistan Cooperative Housing Society was built on around 1025 kanal land with an approved master plan which was further bifurcated in residential area of 560 kanal and area reserved for amenities on 406 kanal.

The accused allegedly changed the master plan without the approval of competent authority, illegitimately converted amenity sites into residential plots of different sizes and issued illegal 145 allotment letters in TIP housing scheme. The accused is also the beneficiary of scheme, the press release maintained.

The accused was presented before an accountability court here to obtain his physical remand. The court on the request of the investigation officer granted 12-day custody of the accused to NAB.