The National Accountability Bureau (NAB) Karachi has officially handed over a confiscated property to Pakistan State Oil (PSO), bringing closure to a corruption case that dates back over two decades.
The asset was recovered from Iqbal Ahmed Turabi, a former Manager of Banking at PSO, and his wife, who were found guilty of accumulating wealth beyond their known sources of income. NAB had initiated an inquiry and later filed Reference No. 39/2001 against the accused and their benamidars in the Accountability Court in Karachi.
Following a successful prosecution, the court sentenced Turabi and his spouse to 10 and 5 years of rigorous imprisonment respectively, imposed a fine of Rs95 million, and ordered the confiscation of their assets. Their appeals were subsequently dismissed by the Sindh High Court and the Supreme Court of Pakistan.
Acting on the final rulings, NAB Karachi took possession of one of the properties and formally transferred it to PSO during a ceremony held at the bureau’s regional headquarters on April 30, 2025. The handover was conducted by NAB Karachi DG Javed Akbar Riaz and received by Brigadier (R) Rizwan Ahmed, General Manager Security Services & Administration at PSO.
