ISLAMABAD: Secretary Ministry of Human Resource Development Abdul Khaliq on Monday presented a preliminary report in the Supreme Court stating that the chairman of the Employees Old Age Benefits Institution (EOBI) had purchased property worth Rs 34 billion during his tenure.

The secretary presented the report during the hearing of the apex court’s suo motu notice over reports that the EOBI had caused a loss of Rs 40 billion to the exchequer by investing huge amounts in private sector projects without approval of its board of trustees (BoT).

A three-judge bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, was hearing the case.

Upon presenting the report, Secretary Khaliq added that no one but the institution’s chairman had the authority to make such transactions.

The purchase had allegedly been made by Zafar Iqbal Gondal, the former chairman of the EOBI.

During the hearing, the chief justice said no one had the right to misappropriate the money that belonged to the workers, adding that the bench would scrutinise as to what law permitted these investments.

The suo motu notice on the matter was taken on June 29 over a note sent by the court registrar, based on a TV program aired on June 27, suggesting that the institution had violated article 9 (security of person) and 24 (protection of property rights) of the Constitution.

The court had then issued notices to Attorney General Muneer A Malik, Director General of the Federal Investigation Agency Saud Mirza, the secretary of the ministry of human resources development, the chairman of the EOBI and its former chairman Gondal to appear before it today.