FIA starts investigation into PSM mega theft 

By: News Desk
Published: 06:19 PM, 7 Aug, 2022
FIA starts investigation into PSM mega theft 
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Federal Investigation Agency (FIA) has launched a formal investigation into the alleged theft of material worth over Rs10 billion in Pakistan Steel Mill (PSM), reported 24News HD TV Channel on Sunday.   

According to details, FIA Corporate Crime Circle Karachi has started an investigation under Inquiry No. 44 following the formal request of the Industries and Production Ministry. The ministry wrote a letter to the FIA requesting to launch an immediate and transparent investigation to bring to light the elements involved in the shocking theft. It is believed that the assets of PSM were stolen in collusion with some officers in the management.

FIA has written a letter to Riaz Hussain Mangi, the focal person of the PSM asking him for the detail’s information of the heads of the security department, security supervisor, storage, warehouse and guards posted at all internal and external gates till January 1, 2018. The requested information includes their name, father's name, copy of National Identity Card, phone number, residential address, date of appointment, and details of where they are posted now.

The case came into the limelight when Abdul Rahman, an engineer of the institution approached the Brigadier Shuja Hasan CEO of Pakistan Steel Mill with documentary evidence having alarming revelations of the alleged theft of more than 10 billion rupees in the mill.  The matter was also raised by PSM Insaf Labour Union.

Earlier, the PSM’s internal investigation also found evidence of the involvement of senior management officers, which has been provided to the FIA by the ministry. 

Reporter: Samar Abbas

Categories : Crime, Latest