An accountability court in Karachi has acquitted all accused including a former chairman of a reference in connection with committing corruption in Pakistan Steel Mills (PSM), reported 24NewsHD TV channel.

All the accused including former PSM chairman Moeen Aftab Sheikh were charged with selling the traders goods at lower rates but the court acquitted them all on the benefit of the doubt.

The judge remarked that the prosecution failed to prove the charges against all the accused so they were given the benefit of doubt.

According to the NAB reference, the accused misused their authority to cause loss of millions to the Steel Mills to the tune of Rs311 million.

The other accused were Sameen Asghar and Shahid Hussain.  

Reporter Waqas Khan