Housing official charge-sheeted over fake bank guarantee

ISLAMABAD: Federal Government Employees Housing Authority Director General Captain (retd) Zafar Iqbal has charge-sheeted Project Director of the Park Road Housing Scheme Fareed Ahmad Shaikh in a Rs716 million fake bank guarantee case.

The officer has been issued the charge-sheet under the Employees Regulations 2020 of the Federal Government Employees Housing Authority. Shaikh has been charged with receiving a Rs716 million bank guarantee having no covering letter and a fake stamp. As project director of the housing scheme, Shaikh allegedly forwarded the cases for release of Rs358 million mobilization advance to a contractor. He was also charged with taking personal interest in verification of a bank guarantee and assured the finance wing that there was nothing wrong with the bank guarantee. An inquiry committee comprising Chief Engineer Col (retd) Imtiazul Haq Khattak and Director Law Basit Khan conducted the inquiry. The official could not be reached. However, sources close to Shaikh said he was innocent.