Sugar mill owner remanded in NAB custody

LAHORE: An accountability court on Tuesday handed over Riaz Qadeer Butt, director and chief executive of Haq Bahu Sugar Mills Jhang, to National Accountability Bureau (NAB) on a 15-day physical remand in a fraud case of Rs. 1,520 million.

Earlier, the NAB officials produced the accused before Accountability Court-III Judge Abdul Sattar and apprised that the accused received the payment for the commodity but with malafide intention did not supply the sugar stock to the Utility Corporation as per an agreement with the Trade Corporation of Pakistan (TCP), thus causing a huge loss to the national exchequer. The officials requested the court to grant physical remand of the accused for investigation.

At this, the court handed over accused to NAB on a 15-day physical remand and directed to produce him again on expiry of the remand term.