Prime Minister Shahid Khaqan Abbasi suspended on Saturday former Employees Old-Age Benefits Institution (EOBI) chairman Zafar Iqbal Gondal over misconduct and corruption charges.

Zafar Iqbal is facing corruption charges of allegedly causing a Rs44 billion loss to the national exchequer through the purchase of lands at exorbitant rates.

According to the Prime Minister House spokesperson, the former EOBI chairman, a grade-20 officer – was suspended from services on the recommendation of a high-level committee tasked with probe into the allegations of corruption and misconduct against him.

Earlier, the FIA had initiated investigations against him for causing Rs44 billion loss to the national exchequer. Gondal allegedly violated the investment and procurement rules of the EOBI in the purchase of lands in Lahore, Islamabad and Karachi at an exorbitant rate, turning deaf ear to to the EOBI board, which vehemently opposed the controversial land deals.

Gondal enjoyed strong backing of the then People’s Party government because of his elder brother, Nazar Gondal’s, association with the party. Nazar Gondal, a former federal minister, has recently joined Imran Khan-led Pakistan Tehreek-i-Insaf PTI.