Rs2.25bn recovered in NICL corruption cases: Senate told

ISLAMABAD: Federal Minister for Textile Industry Abbas Khan Afridi Friday informed the Senate that Rs. 2.25 billion was recovered out of Rs 2.72 billion embezzled in the National Insurance Company Limited (NICL) in different corruption cases during last five years.

The recovery of remaining amount was also under process, he said while responding to a question.

The minister said the government had made legislation and passed two bills to curb corruption.

Answering another question about granting non-discriminatory market access to Indian goods, Afridi said all the leading chambers of commerce & industry and trade associations of Pakistan were positive regarding normalization of Pakistan-India trade.

Moreover, Pakistan’s exports to India would expectedly increase in approximately three years from $ 325 million to around $ 1.3 billion through the process, he informed.

He assured that the government would remove the reservations of all the stakeholders, including industry and agriculture sector and that the national interest would be kept in view during the whole process.

All the positive suggestions from members of the House would be welcomed, he added.

He said the government had formulated the Domestic Commerce Bill to streamline the issues of import and export.