Abro is said to have been involved in bulk import of coal and coke for Pakistan Steel Mills (PSM). He allegedly manipulated the prices of the materials in connivance with former Chairman of the PSM Moeen Aftab Sheikh, which contributed to the colossal losses of PSM in 2008-09, informed sources told Business Recorder.
Abro was arrested on Wednesday from Karachi, as there were four FIRs registered against him. When this scribe contacted the FIA headquarters for confirmation of his arrest, there was no official response from the Agency. But, sources in FIA confirmed that Abro has been taken into custody and was currently being questioned for his involvement in PSM corruption.
Former PSM Chairman Moeen Aftab Sheikh, along with managing director Rasool Bux Pholphoto, ex-director commercial Sameen Asghar, Chief Executive Officer of the Abbas Steel Group, Sabeen Sakina and directors of the Group - Malik Bashir and Khalid Khan- have been arrested in four corruption cases regarding misuse of their official position with criminal intent and collaborating with others in inflicting a colossal loss of Rs 22 billion to the PSM. Moeen Aftab Sheikh was arrested on January 13 from Karachi by FIA and was produced before a court.
Inquiry (95/09) has been initiated against the suspects. During the inquiry it emerged that Moeen Aftab Sheikh, as Chairman PSM, during his incumbency (from May 26, 2008 to August 18, 2009) has reportedly been involved in a number of acts of criminal omission and commission in collusion with the co-accused. An FIR 39/2009 was registered against the suspects under Sections 406, 409, 420, 468, 471, 109/34 of the Pakistan Penal Code read with Section 5 (2) of the Prevention of Corruption Act, 1947 at the FIA Crime Circle police station Karachi.
The FIA also registered three more cases (FIRs 36/09, 37/09 & 38/09) against Moeen Aftab Sheikh, Sameen Asghar and Captain Rasheed Abro under Section 409 and 34 of the Pakistan Penal Code read with Section 5(2) of the Prevention of Corruption Act, 1947 at the FIA crime circle police station in Karachi.