Islamabad (Pakistan News): The National Accountability Bureau (NAB) is considering a new interpretation of its law aimed at preventing corruption cases from being closed that may fall outside NAB’s jurisdiction after an increase in the financial limit due to inflation.
According to sources, a proposal in this regard is under consideration at NAB and is expected to be presented before the Executive Board meeting soon for a policy decision.
The proposal states that just as NAB’s financial limit was increased from Rs500 million to Rs800 million while considering the inflation rate, the same principle should also be applied to alleged financial losses. Such losses may be claimed to have been caused to an individual, a government institution, or the national treasury.
According to the proposed interpretation, if an accused argues that after the amended law, the alleged corruption amount is below the new financial limit and therefore does not fall under NAB’s jurisdiction, then the current value of the allegedly misappropriated amount will also be recalculated in accordance with inflation.
As a result of this procedure, the current value of the alleged financial loss may increase, due to which some cases may once again come under NAB’s jurisdiction.
Sources say that the proposal is based on the principle that the benefit of a legal change made due to inflation should not be limited only to accused persons, but the actual value of the financial loss suffered by the affected party should also be taken into consideration.
If NAB’s Executive Board approves the proposal and it is implemented, the number of corruption cases closed due to the increase in the financial limit is expected to decrease significantly.